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Policy Analysis
Policy Analysis
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Definitions
Robustness of Policies
Economics
Policy Analysis
Economic Models
Robustness
The property of economic policies that their merits are relatively insensitive to the exact specification of the underlying model of the economy
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Definitions
Computable General Equilibrium Model
Economics
General Equilibrium
Economic Models
Policy Analysis
Economic Theory
A comprehensive analysis of computable general equilibrium models and their application in economic theory.
Read more about Computable General Equilibrium Model.
Definitions
Cost-Benefit Analysis - Definition and Meaning
Cost-Benefit Analysis
Economics
Policy Analysis
Externalities
Shadow Prices
An in-depth exploration of cost-benefit analysis, including definition, historical context, and its application in various economic frameworks.
Read more about Cost-Benefit Analysis - Definition and Meaning.
Definitions
Dynamic Stochastic General Equilibrium (DSGE)
DSGE
Macroeconomics
Economic Models
New Keynesian Economics
Policy Analysis
Definition and meaning of dynamic stochastic general equilibrium (DSGE), a class of theoretical models used in macroeconomics.
Read more about Dynamic Stochastic General Equilibrium (DSGE).
Definitions
Lucas Critique
Macroeconomics
Policy Analysis
Economic Theory
The argument that government policies should consider how decision rules of private agents change with policy changes.
Read more about Lucas Critique.
Definitions
Natural Experiment
Economics
Natural Experiment
Policy Analysis
Experimental Economics
An examination of natural experiments, which leverage exogenous changes to estimate the effects of a policy or variable shift.
Read more about Natural Experiment.
Definitions
Opaque Policy Measures
Economic Policy
Transparency
Policy Analysis
Definition and meaning of opaque policy measures in economic policy.
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Definitions
Regression Kink Design
Econometrics
Causal Inference
Policy Analysis
A method of estimation designed to find the causal effect when a policy variable has discontinuities in the first derivative, or ‘kinks’.
Read more about Regression Kink Design.
Definitions
Scenario
Economics
Policy Analysis
Economic Modeling
A set of assumptions on policy choices and the values of exogenous variables to determine future economic developments.
Read more about Scenario.
Definitions
Side-effects
Economics
Policy Analysis
Side-Effects
Externalities
Explanation of unintended results of policies in economics, known as side-effects.
Read more about Side-effects.
Economics Terms Lexicon
Ultimate Dictionary of Economics and Beyond.
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