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Policy Evaluation and Economic Policy Advice

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  • Schmidt, Christoph M.

Abstract

Arguably, one of the most important developments in the field of applied economics during the last decades has been the emergence of systematic policy evaluation, with its distinct focus on the establishment of causality.By contrast to the natural sciences, the objects of our scientific interest typically exert some influence on their treatment status under the policy to be evaluated and on their economic outcomes. Thus, economic policy advice can only be successful, if it is based on an appropriate study design, experimental or observational. It will strive in societies that provide liberal access to data, accept the merits of randomized assignment and guard the independence of research institutions.

Suggested Citation

  • Schmidt, Christoph M., 2007. "Policy Evaluation and Economic Policy Advice," Ruhr Economic Papers 1, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    • Handle: RePEc:zbw:rwirep:1
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    References listed on IDEAS

    as
    1. Christoph Schmidt, 2007. "Policy evaluation and economic policy advice," AStA Advances in Statistical Analysis, Springer;German Statistical Society, vol. 91(4), pages 379-389, December.
    2. Manski, Charles F., 1992. "Identification Problems In The Social Sciences," SSRI Workshop Series 292716, University of Wisconsin-Madison, Social Systems Research Institute.
    3. Jochen Kluve & Christoph M. Schmidt, 2002. "Can training and employment subsidies combat European unemployment? [‘The non-parametric identification of treatment effects in duration models’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 17(35), pages 409-448.
    4. Manuel Frondel & Christoph M. Schmidt, 2006. "The Empirical Assessment of Technology Differences: Comparing the Comparable," The Review of Economics and Statistics, MIT Press, vol. 88(1), pages 186-192, February.
    5. Angrist, Joshua D, 1990. "Lifetime Earnings and the Vietnam Era Draft Lottery: Evidence from Social Security Administrative Records," American Economic Review, American Economic Association, vol. 80(3), pages 313-336, June.
    6. Schmidt, Christoph M., 1999. "Knowing What Works: The Case for Rigorous Program Evaluation," IZA Discussion Papers 77, Institute of Labor Economics (IZA).
    7. O. Ashenfelter & D. Card (ed.), 1999. "Handbook of Labor Economics," Handbook of Labor Economics, Elsevier, edition 1, volume 3, number 3.
    8. Ravallion, Martin, 2008. "Evaluating Anti-Poverty Programs," Handbook of Development Economics, in: T. Paul Schultz & John A. Strauss (ed.), Handbook of Development Economics, edition 1, volume 4, chapter 59, pages 3787-3846, Elsevier.
    9. Heckman, James J. & Lalonde, Robert J. & Smith, Jeffrey A., 1999. "The economics and econometrics of active labor market programs," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 31, pages 1865-2097, Elsevier.
    10. Card, David, 1999. "The causal effect of education on earnings," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 30, pages 1801-1863, Elsevier.
    11. Richard Blundell & Monica Costa Dias, 2000. "Evaluation methods for non-experimental data," Fiscal Studies, Institute for Fiscal Studies, vol. 21(4), pages 427-468, January.
    12. Jochen Kluve & David Card & Michael Fertig & Marek Góra & Lena Jacobi & Peter Jensen & Reelika Leetmaa & Leonhard Nima & Eleonora Patacchini & Sandra Schaffner & Christoph M. Schmidt & Bas Klaauw & An, 2007. "Active Labor Market Policies in Europe," Springer Books, Springer, number 978-3-540-48558-2, February.
    13. Fertig, Michael & Schmidt, Christoph M. & Schneider, Hilmar, 2006. "Active labor market policy in Germany--Is there a successful policy strategy?," Regional Science and Urban Economics, Elsevier, vol. 36(3), pages 399-430, May.
    14. Angrist, Joshua D, 1990. "Lifetime Earnings and the Vietnam Era Draft Lottery: Evidence from Social Security Administrative Records: Errata," American Economic Review, American Economic Association, vol. 80(5), pages 1284-1286, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Moore Nils aus dem & Schmidt Christoph M., 2013. "On the Shoulders of Giants: Tracing Back the Intellectual Sources of the Current Debate on “GDP and Beyond” to the 19th Century," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 233(3), pages 266-290, June.
    2. Christoph M. Schmidt, 2007. "Policy Evaluation and Economic Policy Advice," Ruhr Economic Papers 0001, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    3. Joseph Mensah & Joseph R. Oppong & Christoph M. Schmidt, 2010. "Ghana's national health insurance scheme in the context of the health MDGs: an empirical evaluation using propensity score matching," Health Economics, John Wiley & Sons, Ltd., vol. 19(S1), pages 95-106, September.
    4. Bofinger, Peter & Buch, Claudia M. & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2013. "Gegen eine rückwärtsgewandte Wirtschaftspolitik. Jahresgutachten 2013/14 [Against a backward-looking economic policy. Annual Report 2013/14]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201314.
    5. Göhlmann, Silja & Schmidt, Christoph M., 2008. "Smoking in Germany: Stylized Facts, Behavioral Models, and Health Policy," Ruhr Economic Papers 64, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    6. repec:zbw:rwirep:0001 is not listed on IDEAS
    7. Dirk Engel & Vivien Procher, 2013. "Home Firm Performance After Foreign Investments and Divestitures," The World Economy, Wiley Blackwell, vol. 36(12), pages 1478-1493, December.
    8. Christoph Schmidt, 2007. "Policy evaluation and economic policy advice," AStA Advances in Statistical Analysis, Springer;German Statistical Society, vol. 91(4), pages 379-389, December.
    9. repec:zbw:rwirep:0193 is not listed on IDEAS
    10. Schmidt Christoph M., 2014. "Wirkungstreffer erzielen – Die Rolle der evidenzbasierten Politikberatung in einer aufgeklärten Gesellschaft," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 15(3), pages 219-233, October.
    11. repec:zbw:rwirep:0064 is not listed on IDEAS
    12. Christa Thoben & Hartmut Schauerte & Markus Pieper & Christoph M. Schmidt, 2008. "EU-Fördergelder: "Subventions-Hopping" oder sinnvolle Investitionsförderung - brauchen wir mehr Transparenz?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 61(05), pages 03-15, March.
    13. Silja Göhlmann & Christoph M. Schmidt, 2008. "Smoking in Germany: Stylized Facts, Behavioral Models, and Health Policy," Ruhr Economic Papers 0064, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    14. Dirk Engel & Vivien Procher, 2010. "Home Firm Performance after Foreign Investments and Divestitures," Ruhr Economic Papers 0193, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.

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    More about this item

    Keywords

    Policy evaluation; applied economics; causality; policy advice;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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