Economic models: toyshop or practical workshop? – Professor John Creedy

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Economic models are now ubiquitous in economic analysis. They can take many forms, including smallscale illustrative or pedagogic models, special-purpose models on particular markets and multi-country computable general-equilibrium models. The wide use of modelling has been made possible by the huge growth in computing capacity and software developments. In his non-technical talk, Professor Creedy looks at microsimulation models that analyse the effects of tax and welfare policies and considers their contributions to policy analysis. Examples are provided from his extensive modelling experience. The value of links between economists in government departments and universities, and the role of teamwork, are stressed. This is Professor Creedy’s inaugural lecture as Professor of Public Economics and Taxation at Victoria University of Wellington. Our public lecture series gives you the opportunity to engage with the latest thinking on the world’s major issues.

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