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Economists use reduced-form and structural approaches to address questions or model various aspects of economic phenomena.   Reduced-form models focus on the effects of causes, explaining relationships between factors without delving into the exact reasons behind those connections. This approach often uses regression. For instance, imagine studying how education affectsContinue reading “Structural Form and Reduced Form – Two Empirical Analytical Tools”

Some people argue that economics is just a “boring math game” and doesn’t really deal with the messy, real-world economy we’re all living in. As Thomas Quincey once put it, “Economists are too obsessed with math.” But actually, economics does help us think about a bunch of stuff: Why isContinue reading “Cool Head and Warm Heart: How Economists Address Crimes”

Prof. Travis NG, the Director of the Economic Research Centre, discussed the report “Building an education hub to address some population challenges” at The Social Solution Initiative (SSI) at Osaka University in June 2023. The paper serves as a discussion material during a meeting between the Policy Research @ HKIAPSContinue reading “Report Discussion on Education Hub at Social Solution Initiative, Osaka University”

Introduction Various Hong Kong governmental agencies have been uploading datasets that they collected to their own websites. Hence, the establishment of the Annual Open Data Plan in 2018 has provided a comprehensive platform that consolidates their datasets, which is also updated regularly for public use. However, according to the HongContinue reading “How Can Hong Kong Residents Make Use of Government Data in their Decision Making Process? (Case 1: Choosing a Hospital)”

Everyone has to make a lot of decisions every day, and we always hope to have something to support our decision-making so that we can try our best to reduce any uncertainties. That’s why information is important for all of us: They serve as evidence to help us establish fact-basedContinue reading “Hong Kong Official Data Sources from Various Governmental Institutions”