Suchergebnisse

The present paper describes the modelling of regional labour markets in the newly developed dynamic spatial general equilibrium model RHOMOLO, where the labour market equilibrium is determined by firms' labour demand, a wage-curve determining unemployment, and inter-regional labour migration. The RHOMOLO model is parameterised by estimating the key structural parameters econometrically. In order to illustrate the potential of the proposed dynamic spatial general equilibrium approach for analysing regionally integrated labour markets, we carry out simulations showing the effects of a reduction in transportation cost, and assess the impact on regional labour markets. Our results confirm that wages and unemployment are by far the most important channels of adjustment to macro-economic and policy shocks in the EU. In contrast, labour migration plays a secondary role in labour market adjustments in the EU. Our results also suggest that the relationship between market access, labour demand and labour supply is non-linear and spatially inter-dependent, which underlines the importance of the proposed dynamic spatial general equilibrium approach.

Additionality is one of the key principles driving the functioning of the EU Cohesion Policies (ECP). The present paper studies how additionality affects the distributional effects of the ECP. Using the example of the firm-level investment support, we analyse the role of additionality and co-financing rate in differently competitive markets. We find that the investment additionality and the level of competition importantly affect the distributional effects of the ECP. Imposing additionality to the ECP investments in a perfectly competitive environment causes distortions in the capital market and leads to lower welfare levels. In contrast, without the enforcement of additionality, the distortions are zero and the support fully benefits firms. In an imperfectly competitive environment the firm-level investment support may increase capital use and may be welfare increasing with and without the enforcement of the investment additionality.

A modification of optimal control for an economy under uncertainty by splitting the technique into a simulation phase & a control phase, makes policy optimization feasible for large-scale nonlinear models. The advantages of this approach in a policy search are clearly illustrated by an application to Dutch economic planning. A historical analysis for 1976-1980 shows that it is important to treat unemployment & the balance of payments as the key targets. That dual target strategy, worked out for the current planning period (1981-1985), leads to economic expansion & employment creation rather than retrenchment. 8 Tables, 1 Appendix, 17 References. HA.

En este trabajo analizamos el posible impacto de la Política de Cohesión de la UE 2014-2020, teniendo en cuenta todas las inversiones financiadas con los fondos estructurales europeos en el conjunto de las regiones NUSTS2 de la UE y simulando un conjunto de perturbaciones. Para ello se usa el modelo RHOMOLO, un modelo espacial de EGC que está diseñado para el análisis económico a nivel subnacional. El conjunto de simulaciones considera primero y de forma separada los impactos de las inversiones en infraestructura, capital humano y el apoyo a los temas de innovación incluyendo las mejoras medioambientales. En una segunda fase se realiza una simulación conjunta de las tres categorías de gasto para tener una impresión del patrón y del perfil temporal de los efectos totales. Los resultados de la simulación muestran una sustancial heterogeneidad en cuanto a los efectos en las distintas regiones, los cuales no son una mera imagen de las diferencias en términos de inputs. La concentración de la financiación de la UE en las regiones menos desarrolladas, y en ahorro energético, innovación e inclusión social en las regiones más desarrolladas podría ser una mezcla exitosa para elevar los niveles de vida en el conjunto de Europa. ; In this paper we analyse the possible impact of Cohesion Policy 2014-2020, putting together the investments supported by EU funding in all NUTS2 regions and running a set of simulations. We make use of RHOMOLO, a spatial CGE model tailored for economic analysis at the subnational level, which is described in the paper. We do so by first considering infrastructure investment, human capital development and innovation climate support, including environmental amelioration, separately and then run a combined simulation of the three categories to give an impression of the pattern and time profile of the overall effect. The results of the simulation show substantial heterogeneity in the effects across the regions, which are not a mere image of the differences in input. The concentration of EU funding on ...