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International spillovers of domestic reforms: the joint application of the Lisbon Strategy in the EU

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  • Arjan Lejour

    ()

  • Hugo Rojas-Romagosa

    ()

Abstract

Using the CGE model WorldScan, we assess the benefits for the EU member states of jointly reaching four of the Lisbon targets (i.e. 70% employment, skills upgrades, increased R&D expenditures and administrative burden reductions of 25%), compared with the alternative when each country unilaterally pursues these reforms. With this approach, we estimate the associated international spillovers of joint EU coordination. Spillovers associated with R&D expenditures are a key factor. When the R&D target is jointly reached in the EU, the effect on output almost doubles and the effect on consumption shows an even greater increase. The other three targets also produce positive spillovers, but of a much lower magnitude.

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Bibliographic Info

Paper provided by CPB Netherlands Bureau for Economic Policy Analysis in its series CPB Discussion Paper with number 105.

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Date of creation: May 2008
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Handle: RePEc:cpb:discus:105

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  1. George Gelauff & Sjef Ederveen & J.L.M. Pelkmans, 2006. "Assessing subsidiarity," CPB Document, CPB Netherlands Bureau for Economic Policy Analysis 133, CPB Netherlands Bureau for Economic Policy Analysis.
  2. Olivier Blanchard & Francesco Giavazzi, 2003. "Macroeconomic Effects Of Regulation And Deregulation In Goods And Labor Markets," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 118(3), pages 879-907, August.
  3. Griffith, Rachel & Harrison, Rupert & Macartney, Gareth, 2006. "Product Market Reforms, Labour Market Institutions and Unemployment," CEPR Discussion Papers, C.E.P.R. Discussion Papers 5599, C.E.P.R. Discussion Papers.
  4. Roel Beetsma & Massimo Giuliodori & Franc Klaassen, 2005. "Trade Spillovers of Fiscal Policy in the European Union: A Panel Analysis," EUI-RSCAS Working Papers, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS) 31, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
  5. Tamim Bayoumi & Douglas Laxton & Paolo Pesenti, 2004. "Benefits and spillovers of greater competition in Europe: a macroeconomic assessment," Staff Reports, Federal Reserve Bank of New York 182, Federal Reserve Bank of New York.
  6. Helge Berger & Stephan Danninger, 2005. "Labor and Product Market Deregulation," IMF Working Papers 05/227, International Monetary Fund.
  7. repec:nsr:niesrd:312 is not listed on IDEAS
  8. Sapir, Andre & Aghion, Philippe & Bertola, Giuseppe & Hellwig, Martin & Pisani-Ferry, Jean & Rosati, Dariusz & Vinals, Jose & Wallace, Helen, 2004. "An Agenda for a Growing Europe: The Sapir Report," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780199271498, October.
  9. repec:nsr:niesrd:289 is not listed on IDEAS
  10. Giuseppe Nicoletti & Andrea Bassanini & Ekkehard Ernst & Sébastien Jean & Paulo Santiago & Paul Swaim, 2001. "Product and Labour Markets Interactions in OECD Countries," OECD Economics Department Working Papers 312, OECD Publishing.
  11. Marcello M. Estevão, 2005. "Product Market Regulation and the Benefits of Wage Moderation," IMF Working Papers 05/191, International Monetary Fund.
  12. Arjan Lejour & Paul Veenendaal & Gerard Verweij & Nico van Leeuwen, 2006. "Worldscan; a model for international economic policy analysis," CPB Document, CPB Netherlands Bureau for Economic Policy Analysis 111, CPB Netherlands Bureau for Economic Policy Analysis.
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Cited by:
  1. Zuzana Křístková, 2012. "Impact of R&D Investment on Economic Growth of the Czech Republic - A Recursively Dynamic CGE Approach," Prague Economic Papers, University of Economics, Prague, University of Economics, Prague, vol. 2012(4), pages 412-433.
  2. Zuzana KRISTKOVA, 2013. "Analysis of Private R&D Effects in a CGE Model with Capital Varieties: The Case of the Czech Republic," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, Charles University Prague, Faculty of Social Sciences, vol. 63(3), pages 262-287, July.
  3. repec:prg:jnlpep:v:2013:y:2013:i:4:id:432:p:412-433 is not listed on IDEAS
  4. Jacques Pelkmans & Lourdes Acedo Montoya & Alessandro Maravalle, 2008. "How product market reforms lubricate shock adjustment in the euro area," European Economy - Economic Papers, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission 341, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.

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