The Frontier of Macroeconomic Modelling: Proceedings of the JRC-IEA Workshop 2017

This chapter discusses the Proceedings of the JRC-IEA Roundtable, which objective was to promote a technical debate on the recent developments of DSGE and alternative modelling strategies, the main mechanisms at play and their effectiveness in assessing the impact of R&D and innovation policies. Leading academics presented state-of-the-art macroeconomic models in the area of economic growth and innovation. It follows a debate between academics and practitioners trying to figure out the key elements of a macro model designed to evaluate innovation policies should include.

Taking Stock

This Chapter presents the EU policy context that underlies the need for macroeconomic modelling for the conduct of impact evaluations of R&I funding programmes and provides a critical summary and comparison of the different ex-ante macroeconomic impact assessments of the Horizon Europe Framework Programme 2021-2027 presented in the previous three chapters. In particular, it focuses on the results obtained with the three different modelling approaches apdopted, and links them to the dissimilar properties of each of these models.