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Los efectos macroeconomicos de la Agenda 2000

Author

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  • Simon Sosvilla
  • Jose A. Herce

Abstract

In this paper we explore the macroeconomic effects of the structural funds assigned to Spain in the "Agenda 2000". The total amount of these funds is 213 billions of euros for the 2000-2006 period, 18 billions of such amount corresponding to the Cohesion Fund. Spain will receive 56.6 billions of euros: 45.4 billions of euros from the Structural Funds (80 percent) and 11.2 billions of euros from the Cohesion. The main results of our simulations are that, on the one hand, during the 2000-2006 period, there will be an increase of GDP of 3.5% over the non-Agenda baseline level. On the other hand, the unemployment rate will be (in annual mean) 1,5 percentage points below the non-Agenda baseline rate, meaning that 250,000 posts are maintained year by year by those funds received by Spain. In our opinion, the success for the Spanish economy of the funds assigned in the Agenda 2000 is related to the maintenance of the effects on GDP and on employment accumulated since the reform of the structural funds registered in 1987 and consolidated in the so-called "Delors II Package covering the 1994-1999 period.

Suggested Citation

  • Simon Sosvilla & Jose A. Herce, "undated". "Los efectos macroeconomicos de la Agenda 2000," Working Papers 99-21, FEDEA.
    • Handle: RePEc:fda:fdaddt:99-21
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    File URL: https://documentos.fedea.net/pubs/dt/1999/dt-1999-21.pdf
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    More about this item

    Keywords

    Structural funds; Agenda 2000; Macroeconomic effects.;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

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