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A model-based analysis of the impact of Cohesion Policy expenditure 2000-06: Simulations with the QUEST III endogenous R&D model

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  • Varga, Janos
  • in 't Veld, Jan

Abstract

More than a third of the EU budget is devoted to Cohesion Policy with the objective to foster economic and social cohesion in the European Union. Large-scale fiscal transfers are used to support investment in infrastructure, R&D and human capital. This paper provides a model-based assessment of the potential macroeconomic impact of these fiscal transfers using a DSGE model with semi-endogenous growth (Jones, 1995) and endogenous human capital accumulation. The simulations show the potential benefits of Structural Funds with significant output gains in the long run due to sizeable productivity improvements.

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Bibliographic Info

Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 28 (2011)
Issue (Month): 1-2 (January)
Pages: 647-663

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Handle: RePEc:eee:ecmode:v:28:y:2011:i:1-2:p:647-663

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Web page: http://www.elsevier.com/locate/inca/30411

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Keywords: Cohesion Policy Endogenous growth R&D Dynamic general equilibrium modelling;

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Cited by:
  1. Ben Gardiner & Andries Brandsma & Olga Ivanova & d'Artis Kancs, 2011. "RHOMOLO: A Dynamic General Equilibrium Modelling Approach to the Evaluation of the EU's Regional Policies," ERSA conference papers ersa11p672, European Regional Science Association.
  2. d'Artis Kancs & Andries Brandsma & Damiaan Persyn, 2013. "Modelling Migration and Regional Labour Markets: An Application of the New Economic Geography Model RHOMOLO," ERSA conference papers ersa13p262, European Regional Science Association.
  3. Sandra Gomes & Pascal Jacquinot & Matthias Mohr & Massimiliano Pisani, 2011. "Structural reforms and macroeconomic performance in the euro area countries: a model-based assessment," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area 830, Bank of Italy, Economic Research and International Relations Area.
  4. Barbara Annicchiarico & Fabio Di Dio & Francesco Felici & Francesco Nucci, . "Macroeconomic Modelling and the Effects of Policy Reforms: an Assessment for Italy using ITEM and," Working Papers, Department of the Treasury, Ministry of the Economy and of Finance 1, Department of the Treasury, Ministry of the Economy and of Finance.
  5. Francesca D'Auria & Andrea Pagano & Marco Ratto & Janos Varga, 2009. "A comparison of structural reform scenarios across the EU member states - Simulation-based analysis using the QUEST model with endogenous growth," European Economy - Economic Papers, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission 392, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
  6. Fürst, Dietrich & Hirschfeld, Markus & Jung, Hans-Ulrich & Lammers, Konrad & Nischwitz, Guido & Salow, Sven-Olaf & Sempell, Guido & Skubowius, Alexander, 2012. "Ausgestaltung der EU-Strukturpolitik der Förderperiode 2007 - 2013 in den nordwestdeutschen Bundesländern," Arbeitsmaterial der ARL, Akademie für Raumforschung und Landesplanung (ARL) - Leibniz-Forum für Raumwissenschaften, volume 127, number 358, October.
  7. Györgyi Nyikos, 2013. "The Impact of Developments Implemented from Public Finances, with Special Regard to EU Cohesion Policy," Public Finance Quarterly, State Audit Office of Hungary, State Audit Office of Hungary, vol. 58(2), pages 163-183.

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