Quantifying the potential macroeconomic effects of the Europe 2020 strategy: stylised scenarios
AbstractSummary for non-specialistsAn essential part of the Europe 2020 strategy consists of reforms with a medium- to long-term horizon that focus on promoting the sustainability of public finances and enhancing potential growth. Building on structural reform simulations with the DSGE model QUEST III, this paper presents several stylised scenarios combining fiscal consolidation efforts with differentiated progress in implementing structural reforms to explore the possible extent of gains from such reforms. The results confirm that if the EU succeeds in generating necessary reform momentum, GDP could increase by up to 7% by 2020. The extent of the benefits will crucially depend on the depth and breadth of undertaken reforms, however..
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Bibliographic InfoPaper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 424.
Length: 27 pages
Date of creation: Sep 2010
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Hobza Mourre structural reform Europe 2020 2020 QUEST III growth employment;
Find related papers by JEL classification:
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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- Barbara Annicchiarico & Fabio Di Dio & Francesco Felici, 2012.
"Structural Reforms and the Potential Effects on the Italian Economy,"
CEIS Research Paper
227, Tor Vergata University, CEIS, revised 29 Mar 2012.
- Annicchiarico, Barbara & Di Dio, Fabio & Felici, Francesco, 2013. "Structural reforms and the potential effects on the Italian economy," Journal of Policy Modeling, Elsevier, vol. 35(1), pages 88-109.
- Lusine Lusinyan & Dirk Muir, 2013. "Assessing the Macroeconomic Impact of Structural Reforms The Case of Italy," IMF Working Papers 13/22, International Monetary Fund.
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