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Titel
Cohesion policy and inequality dynamics : insights from a heterogeneous agents macroeconomic model / Herbert Dawid, Philipp Harting, Michael Neugart
VerfasserDawid, Herbert ; Harting, Philipp ; Neugart, Michael
ErschienenBielefeld, Germany : Universität Bielefeld, Faculty of Business Administration and Economics, December 2013
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (41 Seiten) : Diagramme
SerieWorking papers in economics and management ; No. 26-2013
SchlagwörterEuropäische Union / Bruttoinlandsprodukt / Kohäsionspolitik / Technologie
URNurn:nbn:de:hbz:6:2-128198 
DOI10.4119/unibi/2915440 
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Cohesion policy and inequality dynamics [0.87 mb]
Zusammenfassung

Regions within the European Union differ substantially not only with respect to per capita GDP, but also with respect to income inequality within the regions. This paper studies the effects of different types of technology-oriented cohesion policies, aiming at the reduction of regional differences, on the convergence of regions and the dynamics of income inequality within regions. In particular, policies are analyzed using a two-region agent-based macroeconomic model - the Eurace@Unibi model - where firms in the lagging region receive subsidies for investment in physical capital. It is demonstrated that the short-, medium- and long-term effects of the policies on per-capita output and between as well as within regional inequality differ substantially depending on how successful the policy is in incentivizing firms to choose best available capital vintages and on how flexible labor markets are in the targeted region.

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