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"design policy"
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Retrofitting the built environment
\"Retrofitting the Built Environment is an extension of this conference. Contained within is a mix of policy, technical and social science papers, presented by both academic and industry authors, giving a multiple perspective of the issue from both a UK and international perspective\"-- Provided by publisher.
Book
Conceptualising policy design in the policy process
The study of policy design has been of long-standing interest to policy scholars. Recent surveys of policy design scholarship acknowledge two main pathways along which it has developed; one in which the process of policy designing is emphasised and one in which the output of this policy designing process – for example, policy content – is emphasised. As part of a survey of extant research, this article discusses how scholars guided by different orientations to studying policy design are addressing and measuring common policy design concepts and themes, and offers future research opportunities. The article also provides a platform for considering how insights stemming from different orientations of policy design research can be integrated and mapped within the broader public policy process. Finally, the article raises the question of whether a framework that links different conceptualisations of policy design within the policy process might help to advance the field.
Journal Article
How Quantitative Easing Works
We document the transmission of large-scale asset purchases by the Federal Reserve to the real economy using rich borrower-linked mortgage-market data and an identification strategy based on mortgage market segmentation. We find that central bank QE1 MBS purchases substantially increased refinancing activity, reduced interest payments for refinancing households, led to a boom in equity extraction, and increased aggregate consumption. Relative to QE-ineligible jumbo mortgages, QE-eligible conforming mortgage interest rates fell by an additional 40 bp and refinancing volumes increased by an additional 56% during QE1. We estimate that households refinancing during QE1 increased their durable consumption by 12%. Our results highlight that the transmission of unconventional monetary policy to the real economy depends crucially on the composition of assets purchased and the degree of segmentation in the market.
Journal Article
Last futures : nature, technology and the end of architecture
\"In the late 1960s the world was faced with impending disaster: the height of the Cold War, the end of oil and the decline of great cities throughout the world. Out of this crisis came a new generation that hoped to build a better future, influenced by visions of geodesic domes, walking cities and a meaningful connection with nature. In this brilliant work of cultural history, architect Douglas Murphy traces the lost archeology of the present day through the works of thinkers and designers such as Buckminster Fuller, the ecological pioneer Stewart Brand, the Archigram architects who envisioned the Plug-In City in the '60s, as well as co-operatives in Vienna, communes in the Californian desert and protesters on the streets of Paris. In this mind-bending account of the last avant-garde, we see not just the source of our current problems but also some powerful alternative futures\"-- Provided by publisher.
Book
POLICY LEARNING WITH OBSERVATIONAL DATA
In many areas, practitioners seek to use observational data to learn a treatment assignment policy that satisfies application-specific constraints, such as budget, fairness, simplicity, or other functional form constraints. For example, policies may be restricted to take the form of decision trees based on a limited set of easily observable individual characteristics. We propose a new approach to this problem motivated by the theory of semiparametrically efficient estimation. Our method can be used to optimize either binary treatments or infinitesimal nudges to continuous treatments, and can leverage observational data where causal effects are identified using a variety of strategies, including selection on observables and instrumental variables. Given a doubly robust estimator of the causal effect of assigning everyone to treatment, we develop an algorithm for choosing whom to treat, and establish strong guarantees for the asymptotic utilitarian regret of the resulting policy.
Journal Article
More than Semantics? Navigating the “Policy Design” Concepts’ Landscape
Scholarship from the design discipline and policy sciences has produced rich empirical and theoretical knowledge on the intersection of policy and design. However, using concepts that pair “policy” and “design” in various ways, often with different meanings, can confuse practitioners and scholars alike. This confusion is further exacerbated by the sheer variety of online information, including peer-reviewed articles, books, reports, blogs, courses, and the websites of prominent scholars, practitioners, and policy actors. To address this, we analyze “Policy * Design” concepts from a Google Search Engine scraping tool and, in doing so, identify four distinct approaches: “policy design,” “design for policy,” “design in policy,” and “design policy.” The results are presented through issue mapping, and the content of these results is discussed. Finally, we suggest strategies for bridging the gap between “Policy * Design” definitions and then provide a preliminary description of these concepts.
Journal Article
The Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy
After the Global Financial Crisis, a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty of identifying multipliers from observational data. This article, reconciles seemingly disparate estimates of multipliers within a unified and state-contingent framework. We achieve identification of causal effects with new propensity-score based methods for time series data. Using this novel approach, we show that austerity is always a drag on growth, and especially so in depressed economies: a 1% of GDP fiscal consolidation translates into a loss of 3.5% of real GDP over five years when implemented in a slump, rather than just 1.8% in a boom.
Journal Article