Empirical Models and Policy Making - Interaction and Institutions (Hardcover)

It has been held that when economic policy makers use economic models, there is a one way flow of information from the models to policy analysis. This text challenges this assumption, recognizing that in practice the requirements and questions of policy makers play an important role in the development and revision of those very models. Written by highly-placed practitioners and academic economists, it provides a picture of how modellers and policy makers interact with depth, insight and conviction. It offers international case studies of particular interactions between models and policy making, exploring questions such as: how does interaction work? What roles do different professional groups play in interaction? What strategies make the use of models in policy preparation successful? What insights can sociologists and historians give on the interaction between models and policy makers?