We use a spatial general equilibrium model to assess the macroeconomic and distributional impact of the EuropeanCommission’s Recovery and Resilience Facility (RRF). We employ two alternative regional distributions of investments: one based on the regional share of population only, and the other based on Cohesion Policy criteria. Our results suggest that the disbursement of RRF grants would lead to an increase in the European Union’s gross domestic product (GDP) of approximately 0.85% in 2026, corresponding to a present value GDP multiplier of 1.22. The latter rises to 3.25 in the long run. Under the population criterion, GDP impacts are higher relative to the Cohesion criterion, at the detriment of territorial cohesion.
BARBERO JIMENEZ Javier;
CONTE Andrea;
CRUCITTI Francesca;
LAZAROU Nicholas;
SAKKAS Stylianos;
SALOTTI Simone;
2024-01-29
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
JRC127734
0034-3404 (online),
https://www.tandfonline.com/doi/full/10.1080/00343404.2022.2123467,
https://publications.jrc.ec.europa.eu/repository/handle/JRC127734,
10.1080/00343404.2022.2123467 (online),
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