By Iain Begg, Brian Henry

This ebook incorporates a selection of particularly commissioned papers within which prime economists discover the position of utilized economics in informing public coverage. The contributions conceal macroeconomic modeling, using corporation facts to evaluate fiscal functionality, recommendations for information amassing and coverage research. The publication covers quite a few study equipment and exhibits how those were utilized in perform to clarify financial difficulties. utilized economics is either an paintings and a technological know-how, and this ebook demonstrates why.

Show description

Read or Download Applied Economics and Public Policy (Department of Applied Economics Occasional Papers) PDF

Similar microeconomics books

Principles of Microeconomics (5th Edition)

Ideas OF MICROECONOMICS remains to be the most well-liked and commonly used textual content in economics study rooms this present day. The 5th version incorporates a powerful revision of content material in all 36 chapters whereas retaining the transparent, available writing variety and distinct presentation which are the hallmark of this hugely revered writer.

Environmental and Resource Valuation with Revealed Preferences: A Theoretical Guide to Empirical Models

Environmental and source Valuation with published personal tastes: A Theoretical advisor to Empirical types presents a scientific assessment of these fiscal ways for valuing the surroundings and usual assets that use info on what humans do, no longer what they are saying. The authors have labored on versions of published personal tastes for valuing environmental and ordinary assets for numerous many years and authored many of the seminal papers within the box.

Handbook of Utility Theory: Principles

The traditional rationality speculation means that behaviour will be represented because the maximization of a certainly constrained software functionality. This speculation lies on the center of a giant physique of modern paintings in economics, in fact, but additionally in political technology, ethics, and different significant branches of social sciences.

Additional info for Applied Economics and Public Policy (Department of Applied Economics Occasional Papers)

Sample text

The potential for economic behaviour to change over time, by itself, suggests that our knowledge needs to evolve quickly enough to keep pace. Offsetting, to some extent, the negative evidence of forecast failure - to anticipate the recession of the early 1990s both in the US and the UK, for example - there are some positive signs. The greater emphasis on economic theory in model building, already alluded to, and evidenced in this volume, is a helpful development, as is the convergence in some areas on the need to test these theories in empirical models.

These results come at a stage before the construction and testing of the model have been completed. The employment, wage and price relationships have been finished (Barker and Gardiner, 1996), but in other areas, for example consumption (Bracke and Brechet, 1994), the research of the team has not been fully incorporated into the model. The estimated equations are a starting point for further research, and the goodness-of-fit statistics are one criterion for deciding whether an improvement has been made.

One is the dual role of these models: they are meant both to represent a complete macro-structure, and to provide useful forecasts. But structures change, sometimes abruptly, and Introduction 9 this raised more profound questions about the role of economic theory in models, and the use of models in testing theories. A further, and major, complication is the search for theories which allow for behaviourial change, and the development of techniques for dealing with such change. The role of theory in models, especially that relevant to what appears to be a changing world, is thus a crucial area for applied economics.

Download PDF sample

Rated 4.00 of 5 – based on 34 votes