| Nº Sistema |
000475252 |
| Autor |
 Fernández-Cerezo, Alejandro |
| Autor |
Moral-Benito, Enrique |
|
Quintana, Javier |
| Título |
On the macroeconomic impact of NGEU funds and its propagation through the production network [Recurso electrónico] / Alejandro Fernandez-Cerezo, Enrique Moral-Benito, Javier Quintana. |
| Publicado en |
Economic Modelling [Artículos], v. 132, March 2024, 106669 |
| Nota general |
Artículo de revista |
| Resumen |
We quantify the sectoral and aggregate effects of the Next Generation European Union program in the Spanish economy. We outline a dynamic model with production and investment networks that allows for different linkages among sectors and countries. Our model can accommodate different stimulus packages, such as public infrastructure investment, current public expenditure, or capital transfers to firms. Considering the amplification effects through the production network, the average impact on gross domestic product over a five-year horizon is estimated to be 1.75% per year, about 0.6% larger than the direct impact estimated without network interactions. Our model also identifies potential threats, such as the emergence of bottlenecks, inflationary pressures from public spending, or shortages of high-skilled workers in certain sectors, that could significantly reduce the program’s positive impact. [Resumen de autor] [eng] |
| Restricciones |
Acceso electrónico RESTRINGIDO por IP a los usuarios de la Biblioteca del Banco de España |
| Acceso electrónico |
 Acceso al texto completo. |
| Relacionado con |
Documentos de Trabajo / Banco de España; 2305 |
| Clasificación |
L2-Política industrial. |
|
H-Economía pública. |
|
C41-Modelos econométricos. |
| Materia |
Análisis de input-output |
|
Política industrial |
|
Inversión pública |
|
Next Generation EU |
| Materia |
España |
