Modelling in the EU periphery

The Czech economic transition

“…Unemployment will persist longer when there is little or no feedback from unemployment to wages. This reflects the situation in Spain for example, which has had for a long time the highest rate of unemployment in the EU (Bradley et al , 1995). For most other countries a build‐up of unemployment of Spanish proportions would lead to wage moderation, with a consequent improvement in cost competitiveness and a return to lower levels of unemployment.…”

“…Empirical model frameworks are useful in identifying barriers to real convergence and in exploring the quantitative implications of different policy choices. In this paper we design and calibrate a multi‐sectoral macromodel of the Czech economy drawing on models previously used to study convergence processes in the poorer EU member states (Bradley et al , 1995; ESRI, 1997).…”

“…3 3 For a more complete description of the background to the prototype HERMIN model, see Bradley et al (1995) and ESRI (1997). …”

“…13 13 The model's dynamics are complicated, with all the variables interacting to drive output, employment and investment. The dynamics in models of this type are discussed further in Bradley, Herce and Modesto (1995) and ESRI (1997). …”

Modeling and Simulation of Cohesion Policy Funding and Regional Growth Diffusion in an Enlarged European Union

“…Such a model undeniably has certain benefits. It is mainly for these reasons that the European Commission bases itself on work carried out within the framework of the HERMIN (Bradley et al, 1995(Bradley et al, , 2003(Bradley et al, and 2007 and QUEST (Roeger et in 't Veld, 1997et 2004Varga et in 't Veld, 2011) models in its European Funds assessment reports. It draws some rather flattering estimations on the role of regional European policy in short term growth (Kelber, 2010) for the HERMIN model, whereas the QUEST model makes some slight references to its long term impact (Magnier, 2004).…”