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The third pillar of the Investment Plan for Europe: The RHOMOLO assessment

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Abstract

The Investment Plan for Europe aims at removing obstacles to investment, providing visibility and technical assistance to investment projects, and at making smarter use of financial resources. The Investment Plan is made up of three pillars: the European Fund for Strategic Investment (EFSI); the European Investment Advisory Hub and the European Investment Project Portal; and the removal of regulatory barriers to investment. Policy simulations using the RHOMOLO dynamic CGE model show positive aggregate macro-economic effects of the EFSI. This Policy Insight contains the result of an additional set of RHOMOLO simulations aimed at quantifying the macroeconomic impact of the legislative proposals contained in the third pillar of the Investment Plan. The EU GDP is expected to be 1.5% higher by 2030 thanks to the removal of barriers to investment in the areas of the Capital Markets Union, the Single Market Strategy, the Digital Single Market, and the Energy Union. This entails the creation of about one million of jobs across the entire EU.

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  • Martin Christensen & Andrea Conte & Filippo Di Pietro & Patrizio Lecca & Giovanni Mandras & Simone Salotti, 2018. "The third pillar of the Investment Plan for Europe: The RHOMOLO assessment," JRC Research Reports JRC114088, Joint Research Centre.
    • Handle: RePEc:ipt:iptwpa:jrc114088
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    1. Martin Christensen & Andrea Conte & Filippo Di Pietro & Patrizio Lecca & Giovanni Mandras & Simone Salotti, 2018. "The third pillar of the Investment Plan for Europe: The RHOMOLO assessment," JRC Research Reports JRC114088, Joint Research Centre.
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    1. Martin Christensen & Andrea Conte & Filippo Di Pietro & Patrizio Lecca & Giovanni Mandras & Simone Salotti, 2018. "The third pillar of the Investment Plan for Europe: The RHOMOLO assessment," JRC Research Reports JRC114088, Joint Research Centre.
    2. Martin Christensen & Georg Weiers & Andrea Conte & Marcin Wolski & Simone Salotti, 2019. "The European Fund for Strategic Investments: The Rhomolo-EIB 2019 update," JRC Research Reports JRC118260, Joint Research Centre.
    3. Giovanni Mandras & Andrea Conte & Simone Salotti, 2019. "Coal regions in transition: the RHOMOLO-IO indirect jobs estimates," JRC Research Reports JRC118641, Joint Research Centre.
    4. Patrizio Lecca & Simone Salotti & Andrea Conte, 2020. "The importance of studying inter-regional spillover effects of European policies: application of the RHOMOLO model for Poland," JRC Working Papers on Territorial Modelling and Analysis 2020-04, Joint Research Centre.
    5. Mark Thissen & Olga Ivanova & Giovanni Mandras & Trond Husby, 2019. "European NUTS 2 regions: construction of interregional trade-linked Supply and Use tables with consistent transport flows," JRC Working Papers on Territorial Modelling and Analysis 2019-01, Joint Research Centre.

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    1. Martin Christensen & Georg Weiers & Andrea Conte & Marcin Wolski & Simone Salotti, 2019. "The European Fund for Strategic Investments: The Rhomolo-EIB 2019 update," JRC Research Reports JRC118260, Joint Research Centre.
    2. Mark Thissen & Olga Ivanova & Giovanni Mandras & Trond Husby, 2019. "European NUTS 2 regions: construction of interregional trade-linked Supply and Use tables with consistent transport flows," JRC Working Papers on Territorial Modelling and Analysis 2019-01, Joint Research Centre.
    3. Giovanni Mandras & Andrea Conte & Simone Salotti, 2019. "Coal regions in transition: the RHOMOLO-IO indirect jobs estimates," JRC Research Reports JRC118641, Joint Research Centre.
    4. Patrizio Lecca & Simone Salotti & Andrea Conte, 2020. "The importance of studying inter-regional spillover effects of European policies: application of the RHOMOLO model for Poland," JRC Working Papers on Territorial Modelling and Analysis 2020-04, Joint Research Centre.

    More about this item

    Keywords

    rhomolo; region; growth; investment plan for europe; third pillar; capital markets union; single market strategy; energy union; digital single market; modelling;
    All these keywords.

    JEL classification:

    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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