Policy modeling: Definition, classification and evaluation

Mario Ruiz Estrada

Journal of Policy Modeling, 2011, vol. 33, issue 4, 523-536

Abstract: This paper introduces a definition, a way of classifying and a method of evaluating policy modeling. An analytical tool called "Policy Modeling Consistency (PMC-Index)" has been developed for the purposes of evaluating policy modeling. The PMC-Index enables policy-makers and researchers to identify the level of consistency as well as the strengths and weaknesses within any policy modeling. The implementation of the PMC-Index involves the following four basic steps: (i) the use of multi-input-output table; (ii) classification of variables and identification of parameters; (iii) measurement of the PMC-Index; (iv) construction of the PMC-Surface. Through the PMC-Index, this paper promotes multidisciplinary approach to policy modeling. It suggests that various possible effects of any economic policy can be shown using a multi-dimensional graphical means.

Keywords: Econographicology; Policy; modeling; Economics; teaching; Multi-dimensional; graphs; and; multi-dimensional; geometry (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (48)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0161893811000196
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:33:y:2011:i:4:p:523-536

Access Statistics for this article

Journal of Policy Modeling is currently edited by A. M. Costa

More articles in Journal of Policy Modeling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().