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Economic modelling for the Single Market performance report 2019

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Abstract

The European Single Market permits free movement of goods and services within the European Union (EU). By stimulating competition and trade, it improves efficiency, it raises quality and helps cutting prices. The European Commission has a strategy in place to unlock the full potential of the Single Market by improving mobility for service providers, facilitating innovation, enabling across-borders retailing, and enhancing EU-wide access to goods and services. This Policy Insight presents the results of the modelling exercises on the macroeconomic effects of a barriers reduction in regulated business services sectors and construction. Simulations made with the RHOMOLO and FIDELIO models suggest that price reductions in relatively small sectors may have sizeable GDP effects in the EU with sizeable sectoral and country spillovers. For instance, tackling the regulatory restrictiveness in legal, accounting, architectural and engineering services may increase EU value added by up to €41 billion, generating jobs for 500,000 persons, after ten years.

Suggested Citation

  • Martin Christensen & Javier Barbero & Paola Rocchi & Andrea Conte & Robert Marschinski & Simone Salotti, 2019. "Economic modelling for the Single Market performance report 2019," JRC Research Reports JRC118689, Joint Research Centre.
    • Handle: RePEc:ipt:iptwpa:jrc118689
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    File URL: https://publications.jrc.ec.europa.eu/repository/handle/JRC118689
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    Keywords

    region; growth; rhomolo; indirect jobs; coal; input-output analysis;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models

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