The Use of Econometric Models in Economic Policy Analysis

Author(s):  
Grayham E. Mizon
Utilitas ◽  
1990 ◽  
Vol 2 (2) ◽  
pp. 281-306 ◽  
Author(s):  
Sandra J. Peart

The precise nature of W. S. Jevons's utilitarianism as a guiding rule for economic policy has yet to be investigated, and that will be the first issue treated in this paper. While J. A. Schumpeter, for instance, asserted that ‘some of the most prominent exponents of marginal utility’ (including Jevons), were ‘convinced utilitarians’, he did not investigate the further implications for Jevons's policy analysis.


2015 ◽  
Vol 60 (10) ◽  
pp. 17-28
Author(s):  
Dominik Śliwicki

The differences in salaries between men and women are a matter discussed in social and economic policy, both at the international as well as national and regional levels. In order to make effective decisions in favor of eliminating these inequalities we should have information on their actual size. This article aims to determine the differences in salaries between men and women and attempt to identify the factors most affecting their size. As a method of analysis, the Oaxaca-Blinder decomposition based on econometric models was used. The study of the structure of wages conducted by public statistics was data source.


Author(s):  
Alemayehu Geda ◽  
Fredrik Huizinga ◽  
Addis Yimer

In this study we have developed a macro-econometric model for a typical supply constrained African economy. This is aimed at developing a theoretical and empirical template for such policy tools which are increasingly demanded in Africa. We have concretized it by building a macro-econometric model for Rwanda. The Rwanda macro-econometric model has 107 equations of which 72 are endogenous. In addition, a supplementary ARIMA based model with 33 equations for exogenous variable is built to make the model useful for forecasting. The fiscal, balance of payment and money supply block of the model is fairly disaggregated to offer an adequate picture of the macro economy. An econometric estimation of the core behavioral equations of the model using equilibrium [error]-correction approach is made with the database that stretches from 1960 to 2009. The model is similar to successful macro models in the region such as that of the KIPPRA-Treasury model of Kenya. It can also easily be further extended to the support budgeting, forecasting and macroeconomic policy analysis work at the relevant ministries in Africa such as the Ministry of Finance in Rwanda. We have managed to successfully solve the model from 1999 to 2009 and forecast major macro outcomes from 2010 to 2014. We have also used it to conduct a policy simulation exercise which is very important for policy makers such as those in Rwanda. We hope this model offers a theoretical and empirical framework for building macro model across Africa which is increasingly being demanded in many countries.


1980 ◽  
Vol 2 (3) ◽  
pp. 319-344 ◽  
Author(s):  
Terry Barker ◽  
Vani Borooah ◽  
Rick van der Ploeg ◽  
Alan Winters

2016 ◽  
Vol 4 (4) ◽  
pp. 27-32 ◽  
Author(s):  
Басовский ◽  
Leonid Basovskiy ◽  
Басовская ◽  
Elena Basovskaya

Distribution of new — the fifth and sixth technological ways in economy of regions of Russia is investigated. For economic evaluation of technological structures hysterical time series of real per capita GDP of Great Britain are used. Construction of econometric models of cyclical trends has allowed establishing the date of the beginning of the upward half-waves of the fourth and fifth Kondratieff cycles. For the construction of econometric models of technological structures was assumed that the beginning of upward half-waves cycles coincide with the beginning of the upward wave of new orders, since the beginning of the dominance of another way of life and a torque of the withering away of the old order. We used piecewise linear model orders. By the simulation it was found, that the relic and fourth technological orders provide a contribution to real GDP per capita value of 4000 Gehry-Hemis dollars in 1990. The contribution of the new — the fifth and sixth in the Russian economy is estimated as the excess of the value of real per capita GDP over the contribution of relic and fourth technological structures, evaluated according to the UK. This has allowed for the first time to give an economic assessment of the contribution of new orders in the Russian economy. It now has exceeded 50%. By degree of distribution of new ways in the groups of regions is irregular. The regional group in the economy where new ways are not observed, the economic policy directed to the continued industrialization. In the regions, where new ways make contribution to the economies, economic policy should focus on the development of post-industrial economies.


Sign in / Sign up

Export Citation Format

Share Document