|
|||||
|
|
Economic convergence: Policy implications from a heterogeneous agent model |
|
| Institution: | 1. University of Naples “Parthenope”, Department of Business and Economics, Via Parisi 13, Naples 80133, Italy;2. Institute of Economics (LEM), Scuola Superiore Sant’Anna, Piazza Martiri della Libertá 33, I-56127 Pisa, Italy;4. Sciences Po, OFCE, 60 rue Dostoïevski - 06902 Sophia Antipolis, France;5. EMbeDS and Institute of Economics (LEM), Scuola Superiore Sant’Anna, Piazza Martiri della Libertá 33, I-56127 Pisa, Italy;1. Institute of Economics and EMbeDS, Sant’Anna School of Advanced Studies, Pisa, Italy;2. DTU Technical University of Denmark, Lyngby, Denmark;3. Dept. of Statistics and Huck Institutes of the Life Sciences, Penn State University, USA;4. RFF-CMCC European Institute on Economics and the Environment, Milan, Italy |
| Abstract: | In this paper we study the effectiveness of different types of cohesion policies with respect to convergence of regions. A two-region agent-based macroeconomic model is used to analyze short-, medium- and long-term effects of policies improving human capital and fostering adoption of technologies in lagging regions. With fully integrated labor markets the human capital policy positively affects the economically stronger region but reduces production in the targeted weaker region. Subsidies for high technology investment in the weaker region have a positive local output effect and a negative effect on the neighboring region, thereby fostering convergence. When labor markets are not integrated both policies support convergence. |
| Keywords: | Cohesion policies Technology adoption Skill complementarity Agent-based model Regional economics Economic convergence |
| 本文献已被 ScienceDirect 等数据库收录！ | |