Regional economic resilience in the European Union: a numerical general equilibrium analysis
Using a spatial general equilibrium model, this paper investigates the resilience of European Union regionsunder three alternative recessionary shocks, each activating different economic adjustments andmechanisms. We measure the vulnerability, resistance and recoverability of regions and identify keyregional features affecting the ability of regions to withstand and recover from unexpected externalshocks. The analysis reveals that the responses of regions vary according to the nature of the externaldisturbance and to the pre-shock regional characteristics. Finally, it seems that resilience also depends onfactor mobility. The analysis, although designed before the onset of the Covid-19 pandemic, offersinteresting insights into how to use a general equilibrium framework to study resilience in such a context.
DI PIETRO Filippo;
LECCA Patrizio;
SALOTTI Simone;
2021-09-01
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
JRC116566
1742-1772 (online),
https://www.tandfonline.com/doi/full/10.1080/17421772.2020.1846768,
https://publications.jrc.ec.europa.eu/repository/handle/JRC116566,
10.1080/17421772.2020.1846768 (online),
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