Emergent policy-making with macroeconometric models

Smith, Ron P. (1998) Emergent policy-making with macroeconometric models. Economic Modelling 15 (3), pp. 429-442. ISSN 0264-9993.

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Official URL: https://doi.org/10.1016/S0264-9993(98)00021-2

Abstract

Despite extensive criticism from academic economists, large macroeconometric-models have thrived in government. This paper considers why they have been found useful. It argues that the way economists describe the forecasting and policy process can be misleading and the actual process by which policy emerges is quite different. It then uses accounts by UK government economic advisers and politicians to describe the role of models in this `emergent' policy-making process.

Metadata

Item Type:	Article
School:	Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
Depositing User:	Sarah Hall
Date Deposited:	31 Aug 2020 17:31
Last Modified:	02 Aug 2023 18:03
URI:	https://eprints.bbk.ac.uk/id/eprint/40682

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