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This paper calibrates the Roeger-Varga-Veld (2008) micro-founded DSGE model with endogenous growth for all EU member states using country specific structural characteristics and employs the individual country models to analyze the macroeconomic impact of various structural reforms. The authors use the country models to analyze the costs and benefits of reforms in terms of fiscal policy instruments such as taxes, benefits, subsidies and administrative costs faced by firms. Their results confirm the beneficial effects of various structural reforms, however the effects show a large variation across the member states.
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