Policy evaluation through simulation with macroeconomic models

Holland, Bradley David. (1988). Policy evaluation through simulation with macroeconomic models Honours Thesis, School of Economics, University of Queensland.

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Author Holland, Bradley David.
Thesis Title Policy evaluation through simulation with macroeconomic models
School, Centre or Institute School of Economics
Institution University of Queensland
Publication date 1988
Thesis type Honours Thesis
Total pages 137
Language eng
Subjects 14 Economics
Formatted abstract
      This thesis outlines the attributes of computer simulation for the purpose of macroeconomic policy evaluation. Simulation experiments are conducted upon an econometric model of the Australian economy, and policy recommendations are made for a government wishing to maximise social utility within the short term. This exercise has a dual purpose. The first is to demonstrate simulation experiments employing factorial and optimum seeking computer designs, and the contribution they can make in the provision of policy advice and decision support. The second is to provide a rebuttal to the critics of econometrics, who argue that modelling can provide no useful information concerning policy evaluation. An overreliance on strict econometric techniques can generate inaccuracies in longer term forecasts and policy evaluation. However, coupled with the simulation approach to modelling, the use of econometric models, these problems can be avoided or minimised.

Document type: Thesis
Collection: UQ Theses (non-RHD) - UQ staff and students only
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Created: Wed, 24 Nov 2010, 14:29:24 EST by Muhammad Noman Ali on behalf of The University of Queensland Library