The ex-post macroeconomic evaluation of the 2014-2020 European Social Fund, Youth Employment Initiative and REACT-EU labour market interventions

Pablo Casas (), Tryfonas Christou, Abián García Rodríguez, Nicholas Joseph Lazarou and Simone Salotti

MPRA Paper from University Library of Munich, Germany

Abstract: We provide a macroeconomic evaluation of the impact of the 2014-2020 European Social Fund, the Youth Employment Initiative and the labour market interventions of the REACT-EU programme, using data updated to the end of 2023. We use the spatial dynamic general equilibrium model RHOMOLO, modified to include endogenous labour force participation, to analyse the impact of nearly €110 billion in total, showing how GDP, employment, wages and various measures of inequality respond to the policies. The results suggest that the European labour market policy has a substantial positive impact on the regional economies of the Union and on the labour force, with long-lasting positive effects on GDP and employment, and a reduction in regional disparities and macroeconomic educational mismatches.

Keywords: European Social Fund; regional labour markets; general equilibrium modelling. (search for similar items in EconPapers)
JEL-codes: C68 J20 J30 R13 (search for similar items in EconPapers)
Date: 2025-01-21
New Economics Papers: this item is included in nep-dge, nep-eec, nep-lma and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:123410

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