The macroeconomic effects of the CSF 1994–1999 in the EU periphery: An analysis based on the HERMIN model
This paper tries to assess the macroeconomic effects of the Community Support Framework (CSF) for the period 1994–1999 in the peripheral countries of the European Union (Ireland, Portugal and Spain) using the HERMIN model. To that end, after providing an overview of the CSF in each country and analy...
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| Published in: | Economic modelling Vol. 12; no. 3; pp. 323 - 333 |
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| Main Authors: | , , |
| Format: | Journal Article |
| Language: | English |
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Elsevier B.V
1995
Elsevier |
| Series: | Economic Modelling |
| Online Access: | Get full text |
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| Abstract | This paper tries to assess the macroeconomic effects of the Community Support Framework (CSF) for the period 1994–1999 in the peripheral countries of the European Union (Ireland, Portugal and Spain) using the HERMIN model. To that end, after providing an overview of the CSF in each country and analysing their main programmes, we offer a detailed description of the macroeconomic methodology used to explore the quantification of the effects of those CSF programmes. Three main programmes are considered: physical infrastructure, human resources and aids to production and investment. The contribution to growth by these programmes, both separately and jointly, is analysed and compared with a stylized projection of the peripheral economies used as a baseline. In order to treat supply shocks, the HERMIN model of the peripheral economies of the EU is correspondingly adapted in a first attempt to use a macroeconometric model for the analysis of those effects. |
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| AbstractList | This paper tries to assess the macroeconomic effects of the Community Support Framework (CSF) for the period 1994–1999 in the peripheral countries of the European Union (Ireland, Portugal and Spain) using the HERMIN model. To that end, after providing an overview of the CSF in each country and analysing their main programmes, we offer a detailed description of the macroeconomic methodology used to explore the quantification of the effects of those CSF programmes. Three main programmes are considered: physical infrastructure, human resources and aids to production and investment. The contribution to growth by these programmes, both separately and jointly, is analysed and compared with a stylized projection of the peripheral economies used as a baseline. In order to treat supply shocks, the HERMIN model of the peripheral economies of the EU is correspondingly adapted in a first attempt to use a macroeconometric model for the analysis of those effects. |
| Author | Bradley, John Herce, José-Antonio Modesto, Leonor |
| Author_xml | – sequence: 1 givenname: John surname: Bradley fullname: Bradley, John organization: John Bradley is with the Economic and Social Research Institute, 4 Burlington Road, Dublin 4, Ireland – sequence: 2 givenname: José-Antonio surname: Herce fullname: Herce, José-Antonio organization: José-Antonio Herce is with FEDEA and Universidad Complutense, Madrid, Spain – sequence: 3 givenname: Leonor surname: Modesto fullname: Modesto, Leonor organization: Leonor Modeston is with the Universidade Católica Portuguesa, Lisbon, Portugal |
| BackLink | http://econpapers.repec.org/article/eeeecmode/v_3a12_3ay_3a1995_3ai_3a3_3ap_3a323-333.htm$$DView record in RePEc |
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| Copyright | 1995 |
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| References | Argimón, González-Páramo, Martín, Roldán (BIB1) 1993 129–168 Krugman, Venables (BIB12) 1993 OECD (BIB16) 1992 Meade, J.E. ‘External economies and diseconomies in a competitive situation’ Draper, M. and Herce J.A. ‘Infraestructuras y crecimiento: un panorama’ Herce, Sosvilla-Rivero (BIB11) 1994 Neven (BIB15) 1990; 10 Callan (BIB6) 1993 Porter (BIB17) 1986 Christodoulakis (BIB7) 1993 Bradley, Coimbra, Modesto, Neves, O'Donnel (BIB4) 1994 (BIB10) 1994 54–67 Aschauer (BIB2) 1989; 23 Munnell (BIB14) 1992; 6 Bajo-Rubio, Sosvilla-Rivero (BIB3) 1993; 10 Corujedo, García, Martínez (BIB8) 1992; 16 Bradley, Whelan, Wright (BIB5) 1993 |
| References_xml | – year: 1993 ident: BIB6 article-title: Returns to educational investment: new evidence for Ireland publication-title: The Community Support Framework 1989–1993: Evaluation and Recommendations for CSF 1994–1999 contributor: fullname: Callan – volume: 23 start-page: 177 year: 1989 end-page: 200 ident: BIB2 article-title: Is public expenditure productive? publication-title: Journal of Monetary Economics contributor: fullname: Aschauer – year: 1993 ident: BIB5 article-title: Stabilization and Growth in the EC Periphery contributor: fullname: Wright – year: 1986 ident: BIB17 article-title: Competition in global industries: a conceptual framework publication-title: Competition in Global Industries contributor: fullname: Porter – year: 1994 ident: BIB11 article-title: The Effects of the Community Support Framework 1994–1999 on the Spanish Economy: An Analysis Based on the HERMIN Model publication-title: Working paper 10R contributor: fullname: Sosvilla-Rivero – year: 1993 ident: BIB12 article-title: Integration, Specialization and Adjustment publication-title: Discussion Paper No 886 contributor: fullname: Venables – volume: 10 start-page: 13 year: 1990 end-page: 62 ident: BIB15 article-title: EEC integration towards 1991: some distributional aspects publication-title: Economic Policy contributor: fullname: Neven – volume: 6 start-page: 189 year: 1992 end-page: 198 ident: BIB14 article-title: Infrastructure investment and economic growth publication-title: Journal of Economic Perspective contributor: fullname: Munnell – year: 1994 ident: BIB10 publication-title: Evaluacíon del Marco de Apoyo Communitario 1989–1993. – volume: 10 start-page: 179 year: 1993 end-page: 185 ident: BIB3 article-title: Does public capital affect private sector performance? An analysis of the Spanish case, 1964–1988 publication-title: Economic Modelling contributor: fullname: Sosvilla-Rivero – year: 1993 ident: BIB7 article-title: Public Infrastructures and Private Productivity publication-title: Discussion Paper 93-07 contributor: fullname: Christodoulakis – volume: 16 start-page: 299 year: 1992 end-page: 304 ident: BIB8 article-title: Educación y rentas. Una aplicación a la enseñanza media en España: una nota publication-title: Investigaciones Económicas contributor: fullname: Martínez – year: 1992 ident: BIB16 article-title: Inflation performance and structural rigidities publication-title: OECD Economic Surveys: Spain contributor: fullname: OECD – year: 1993 ident: BIB1 article-title: Productividad e Infraestructuras en la Economía Española publication-title: Working paper No 9313 contributor: fullname: Roldán – year: 1994 ident: BIB4 article-title: The Effects of CSF 1994–1999 on the Irish and Portuguese Economies: An Analysis based on the HERMIN Model publication-title: Technical Paper submitted to the European Commission contributor: fullname: O'Donnel |
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| Title | The macroeconomic effects of the CSF 1994–1999 in the EU periphery: An analysis based on the HERMIN model |
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