Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/283074 
Year of Publication: 
2022
Series/Report no.: 
JRC Working Papers on Territorial Modelling and Analysis No. 12/2022
Publisher: 
European Commission, Joint Research Centre (JRC), Seville
Abstract: 
We investigate the effects of the 2014-20 European structural funds with a general equilibrium model calibrated on the NUTS 1 regions of the EU. We assume forward-looking agents to account for expectations and long-lasting effects of the policy. The almost €260 billion of investments lead the European GDP to be 0.3% higher in 2022 than it would be in the absence of the policy. Interestingly, this effect is lower than what a model with myopic agents would suggest. The regional distribution of the differences in the GDP impacts between the two settings indicates that the largest deviations are recorded for the net recipient regions, with interesting implications regarding the policy credibility, the nature of the interventions and their duration.
Subjects: 
general equilibrium modelling
forward-looking behaviour
regional economics
cohesion policy
JEL: 
C68
D58
R13
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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