A model-based analysis of the impact of Cohesion Policy expenditure 2000–06: Simulations with the QUEST III endogenous R&D model |
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| Authors: | Janos Varga Jan in 't Veld |
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| Institution: | 1. Centre d’Économie de la Sorbonne, University Paris 1 Pantheon-Sorbonne, France;2. Centre d’Économie de la Sorbonne, Paris School of Economics, University Paris 1 Pantheon-Sorbonne, France;3. Department of Banking and Finance, University of Zurich, France;1. Department of Administrative Sciences and Regional Studies, Dunarea de Jos University/ Faculty of Social, Political and Legal Sciences, Domneasca Street no.111, Galati, 800201, Galati, Romania;2. Department of Accounting, Audit and Finance, Stefan cel Mare University, Suceava 720229, Romania;3. Department of Business Administration, Dunarea de Jos University/Faculty of Economics and Business Administration, Nicolae Balcescu Street, no. 59-61, Galati, 800001, Galati, Romania |
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| Abstract: | More than a third of the EU budget is devoted to Cohesion Policy with the objective to foster economic and social cohesion in the European Union. Large-scale fiscal transfers are used to support investment in infrastructure, R&D and human capital. This paper provides a model-based assessment of the potential macroeconomic impact of these fiscal transfers using a DSGE model with semi-endogenous growth (Jones, 1995) and endogenous human capital accumulation. The simulations show the potential benefits of Structural Funds with significant output gains in the long run due to sizeable productivity improvements. |
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