The paper illustrates the effect of a permanent demand-side shock in the perturbed regions and the associated spillover effects in the non-perturbed regions using the RHOMOLO spatial-numerical general equilibrium model of the EU economy. We test to what extent gradual upward pressure on wages...

This paper presents a macroeconomic evaluation of the impact of the Horizon 2020 funds, carried out using the spatial dynamic general equilibrium model RHOMOLO. The policy disbursement data used to feed the model relate to the actual use of the funds over the period 2014-2021, so this is...

This Technical Report describes the features of the RHOMOLO-IO model and demonstrates its flexibility by showing a number of recent policy-relevant applications for which it has been used. Such applications include, for instance, the study of the European Globalisation Fund, of four TEN-T...

We make the case for a technology-enabled approach to Smart Specialisation policy making in order to foster its effectiveness by proposing a novel type of economic impact assessment. We use the RHOMOLO model to gauge empirically the general equilibrium effects implied by the Smart Specialisation...

Using a spatial general equilibrium model, this paper investigates the resilience of EU regions under three alternative recessionary shocks, each of them activating different economic adjustments and mechanisms. Using a theoretical framework, we measure the vulnerability, resistance, and...

The European cohesion policy is the EU's main investment policy and targets all regions and cities across the EU to support job creation, business competitiveness, economic growth, and sustainable development. In the 2014-2020 programming period, one third of the EU budget has been allocated to...

The contribution of this paper is twofold. First, it uses the available official Input-Output data for the Western Balkans economies to estimate the output and value added multipliers of the sectors identified as being either current or emerging strengths within the context of Smart...

We analyse the impact of the investments related to the European Cohesion policy in Portugal over the 2014-2020 programming period. We use the spatial dynamic general equilibrium model RHOMOLO to identify the direct and indirect effects stemming from a variety of spending categories and economic...

We employ the spatial dynamic general equilibrium model RHOMOLO to estimate the economic impact of the 2021-2027 Cohesion Policy in Bulgarian NUTS-2 regions and analyse the implications for growth and development in Bulgaria. The main investment areas covered by the policy fall into the...