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A Model Based Assessment Of The Macroeconomic Impact Of Eu Structural Funds On The New Member States
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Book Synopsis A Model-based Assessment of the Macroeconomic Impact of EU Structural Funds on the New Member States by : Janos Várga
Download or read book A Model-based Assessment of the Macroeconomic Impact of EU Structural Funds on the New Member States written by Janos Várga and published by . This book was released on 2009 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper gives a model-based analysis of the potential macro-economic impact of European Union Structural and Cohesion Funds payments on the economies of the new Member States. The model used is a four-region DSGE model with human capital accumulation and endogenous technological change. The framework that we adopt is the Jones (2005) extension of the endogenous growth model, which uses a variety approach for modelling knowledge investment. The EU funds average around 1.5 percent of GDP and are used for investment in infrastructure, human capital and R&D. The model simulations show this can lead to significant gains in output, both in the short as well as in the long run."--Document home page.
Book Synopsis Interpreting EU Funds Data for Macroeconomic Analysis in the New Member States by : Robert Sierhej
Download or read book Interpreting EU Funds Data for Macroeconomic Analysis in the New Member States written by Robert Sierhej and published by International Monetary Fund. This book was released on 2007-04 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on a dataset suitable for macroeconomic analysis, the paper provides an overview of the magnitudes, purpose and institutional implications of EU-related transfers to and from the new member states. A rough analysis of accounting identities and first-round effects shows that EU funds may have led to a fiscal drag of up to 1 percent of GDP and an additional aggregate demand stimulus of up to 1 percent of GDP during the first years of membership. These effects are likely to increase as additional funding become available under the new financial perspective, pointing to the need to consider policy tradeoffs.
Book Synopsis The Effect of Public Investment in Europe by : Jasper de Jong
Download or read book The Effect of Public Investment in Europe written by Jasper de Jong and published by . This book was released on 2017 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider the effect of an increase in public investments on output in Europe against the background of a sharp drop of public investments in a number of EU countries during the crisis and subsequent policy discussions on the need to stimulate public investments. We start with a brief overview of recent developments in public investments, including some methodological issues, and provide a literature overview of the effect of public investments on growth. On the basis of updated estimates of the public capital stock, we estimate the output response to a public capital impulse, using VAR models. In addition, using a structural model, we investigate the sensitivity of the macroeconomic impact of an increase in public investments to alternative assumptions about economic structures and policy implementations.
Book Synopsis A Comparison of Structural Reform Scenarios Across the EU Member States by :
Download or read book A Comparison of Structural Reform Scenarios Across the EU Member States written by and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper calibrates the Roeger-Varga-Veld (2008) micro-founded DSGE model with endogenous growth for all EU member states using country specific structural characteristics and employs the individual country models to analyse the macroeconomic impact of various structural reforms. We analyse the costs and benefits of reforms in terms of fiscal policy instruments such as taxes, benefits, subsidies and administrative costs faced by firms. We find that less R & D intensive countries would benefit the most from R & D promoting and skill-upgrading policies. We also find that shifting from labour to consumption taxes, reducing the benefit replacement rate and relieving administrative entry barriers are the most effective measures in those countries which have high labour taxes and entry barriers."--Publication information page.
Book Synopsis Five Years of an Enlarged EU by : Filip Keereman
Download or read book Five Years of an Enlarged EU written by Filip Keereman and published by Springer Science & Business Media. This book was released on 2010-07-23 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fifth Enlargement that took place in 2004 and 2007 was a milestone in the history of the European Union. Not only because of the large number of acceding countries but also because of their recent political and economic experience. Ten of them had undergone a profound transition from a totalitarian regime to democracy, and from a centrally planned economy to a market-based system. Most of them had income levels signi?cantly below those of the then EU-15. Now, 6 years later, we can clearly see that the process of European integration, both before and after 2004, was what enabled Europe to overcome the gaps between various parts of the continent. The enlargement made Europe a better and wealthier place and streng- ened its position in the world. Integration into the European Union has always been one of the strongest incentives for reform in the new Member States. Particularly important in my view have been the development of ?nancial markets through foreign direct investment and capital in?ows, and the opening of labour markets – which was a two-way phenomenon, with markets being opened up in acceding as well as the incumbent Member States. The Fifth Enlargement was thus an exercise of glo- lisation in miniature, a practice run for the Union to tackle the challenges of the ever smaller world.
Book Synopsis Macroeconomic Effects of EU Transfers in New Member States by : Céline Allard
Download or read book Macroeconomic Effects of EU Transfers in New Member States written by Céline Allard and published by INTERNATIONAL MONETARY FUND. This book was released on 2008-09-01 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large inflows from the European Union to the New Member States are likely to significantlyimpact macroeconomic outcomes. In this paper, we use the IMF's Global Integrated Monetaryand Fiscal model (GIMF) to analyze the impact of the transfers and show the conditionsunder which they would help speed up convergence. We find that the EU funds need to bedirected predominantly to investment rather than to income support and that to bestaccompany the EU fund inflows, the policy-mix would need to combine counter-cyclicalpolicy with a strong commitment to the existing monetary regime.
Book Synopsis Bulgaria’s EU Funds Absorption by : Iana Paliova
Download or read book Bulgaria’s EU Funds Absorption written by Iana Paliova and published by International Monetary Fund. This book was released on 2014-02-06 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on EU structural and cohesion funds assistance to Bulgaria during the 2007–13 program period. Initial weaknesses resulted in a low absorption rate, which was mitigated by increasing advance payments; applying electronic application and reporting procedures; simplifying and unifying tender processes; and strengthening the role of international financial institutions and banks in project preparation, evaluation and monitoring. The possible impact on growth and potential output is briefly discussed, while the risks of improper absorption are acknowledged. Valuable lessons have been learned, but it is recommended that additional steps be taken for the next program period 2014–20.
Book Synopsis A Model-based Assessment of the Distributional Impact of Structural Reforms by :
Download or read book A Model-based Assessment of the Distributional Impact of Structural Reforms written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the effects of structural reforms on the functional distribution of income in EU Member States. To study this mechanism we use a DSGE model (Roeger et al. 2008) with households supplying three types of labour, low-, medium- and high-skilled. We assume that households receive income from labour, tangible capital, intangible capital, financial wealth and transfers and we trace how structural reforms affect these types of incomes. The quantification of structural reforms is based on changes in structural indicators that can significantly close the gap of a country's average income towards the best performing countries in the EU. We find a general trade-off between an increase in employment of a particular group and the income of the average group member relative to income per capita. In general, reforms which aim at increasing employment of low skilled workers are associated with a fall in wages relative to income per capita. Capital owners generally benefit from labour market reforms, with an increasing share in total income, due to limited entry into the final goods production sector. This suggests that labour market re-forms may lead to suboptimal distributional effects if there are rigidities in goods markets present, a finding which confirms the importance of ensuring that such reforms are accompanied or preceded by product market reforms.
Book Synopsis The Effect of Public Investment in Europe by :
Download or read book The Effect of Public Investment in Europe written by and published by . This book was released on 2017 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider the effect of an increase in public investments on output in Europe against the background of a sharp drop of public investments in a number of EU countries during the crisis and subsequent policy discussions on the need to stimulate public investments. We start with a brief overview of recent developments in public investments, including some methodological issues, and provide a literature overview of the effect of public investments on growth. On the basis of updated estimates of the public capital stock, we estimate the output response to a public capital impulse, using VAR models. In addition, using a structural model, we investigate the sensitivity of the macroeconomic impact of an increase in public investments to alternative assumptions about economic structures and policy implementations.
Book Synopsis The Economic Impact of Selected Structural Reform Measures in Italy, France, Spain and Portugal by :
Download or read book The Economic Impact of Selected Structural Reform Measures in Italy, France, Spain and Portugal written by and published by . This book was released on 2016 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reports the results of a macroeconomic impact assessment of actual structural reform measures in four Member States (Italy, France, Spain and Portugal). For Italy, Spain and Portugal the selection of measures is based on the 2013, 2014 and 2015 National Reform Programmes, while for France only measures from the 2015 NRP are considered. The paper describes the methodology used, the 'translation' of actual reform measures into model shocks, and the results from QUEST model simulations.
Book Synopsis EU Governance and EU Funds by : Mariana Tomova
Download or read book EU Governance and EU Funds written by Mariana Tomova and published by . This book was released on 2013 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to empirically analyse whether sound fiscal and macroeconomic policies are beneficial to the achievement of the socio-economic development objectives enshrined in the Treaty on the Functioning of the European Union, and in particular whether sound policies have an impact on the effectiveness of European Structural and Investment Funds (ESI funds) in helping Member States to progress towards these socio-economic development objectives. Our econometric results show that sound fiscal policies proxied by low levels of government debt and deficit and sound macroeconomic policies proxied by low levels of net foreign liabilities are beneficial to socio-economic development. Furthermore, we find evidence that ESI funds are effective in helping Member States to enhance socio-economic development and this effectiveness is higher when combined with sound national fiscal and macroeconomic policies.
Book Synopsis The Potential Growth Impact of Structural Reforms in the EU by : Janos Várga
Download or read book The Potential Growth Impact of Structural Reforms in the EU written by Janos Várga and published by . This book was released on 2014 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper presents a quantitative model-based assessment of the potential impact of structural reforms in the EU Member States. By comparing structural indicators of labour and product markets, a gap is defined for each indicator relative to the 3 best performers. Scenarios are then simulated in which half the gap vis-à-vis best performance is closed, to avoid setting unrealistic and/or unattainable targets. The simulations show large potential gains in output and employment, raising EU GDP by 3% after five years and 6% after ten years. While competitiveness gains are smaller under simultaneous reforms, higher demand effects help to support growth in trading partners."--Document home page.
Book Synopsis Fertile Soil for Structural Funds? A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy by : Sjef Ederveen
Download or read book Fertile Soil for Structural Funds? A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy written by Sjef Ederveen and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Structural funds are the most intensively used policy instrument by the European Union to promote economic growth in its member states and to speed up the process of convergence. This paper empirically explores the effectiveness of European Structural Funds by means of a panel data analysis for 13 countries in the European Union. We show that - on average - Structural Funds are ineffective. For countries with the 'right' institutions, however, Structural Funds are effective. The latter result is obtained for a wide range of conditioning variables, such as openness, institutional quality, corruption and indicators for good governance.
Book Synopsis Europe's Growth Champion by : Marcin Piatkowski
Download or read book Europe's Growth Champion written by Marcin Piatkowski and published by Oxford University Press. This book was released on 2018 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: What makes countries rich? What makes countries poor? Europe's Growth Champion: Insights from the Economic Rise of Poland seeks to answer these questions, and many more, through a study of one of the biggest, and least heard about, economic success stories. Over the last twenty-five years Poland has transitioned from a perennially backward, poor, and peripheral country to unexpectedly join the ranks of the world's high income countries. Europe's Growth Champion is about the lessons learned from Poland's remarkable experience, the conditions that keep countries poor, and the challenges that countries need to face in order to grow. It defines a new growth model that Poland and its Eastern European peers need to adopt to grow and catch up with their Western counterparts. Poland's economic rise emphasizes the importance of the fundamental sources of growth- institutions, culture, ideas, and leaders- in economic development. It demonstrates that a shift from an extractive society, where the few rule for the benefit of the few, to an inclusive society, where many rule for the benefit of many, can be the key to economic success. *IEurope's Growth Champion asserts that a newly emerged inclusive society will support further convergence of Poland and the rest of Central and Eastern Europe with the West, and help to sustain the region's Golden Age. It also acknowledges the future challenges that Poland faces, and that moving to the core of the European economy will require further reforms and changes in Poland's developmental character.
Download or read book Unleashing Potential written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supply-side policies take centre stage in the EU's post-pandemic recovery plans. This paper employs a benchmarking approach to quantify the potential impact of structural reforms in the EU Member States. Based on a comprehensive collection of structural indicators and the QUEST-RD model, we evaluate reforms in five policy areas: (i) market competition and regulation; (ii) taxation; (iii) skills and education; (iv) labour markets; and (v) research and development. For each indicator and Member State, we simulate the closing of half of the gap with the EU's best performers, implying ambitious reforms for countries with significant distance to the frontier. For these stylised reforms, we find significant potential gains in employment and output, raising EU GDP by around 2% and 8% after five and twenty years, respectively. In the long run, the policies can increase EU GDP by over 20%. The policies also reduce economic disparities between countries, given different scope for reform. For countries with sizable distance to the best performers, increases in potential GDP could exceed 40% when halving the gap across all indicators. Among the reforms considered here, human capital investment emerges as central for enhancing growth potential. In addition, we find synergies across reforms and countries and assess the sensitivity to alternative assumptions on technology dynamics in our model.
Book Synopsis The Effects of the EU Cohesion Policy on Regional Economic Growth by : Ambre Maucorps
Download or read book The Effects of the EU Cohesion Policy on Regional Economic Growth written by Ambre Maucorps and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Funds and Games written by Sjef Ederveen and published by . This book was released on 2002 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
