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  • Open Access
  • © 2022

Macroeconomic Modelling of R&D and Innovation Policies

Palgrave Macmillan
  • This book is open access, which means that you have free and unlimited access

  • A journey into macroeconomics and innovation

  • New horizons in innovation policy economic impact assessment

  • European Commission macroeconomic models

  • Frontier research in endogenous growth theory with firm heterogeneity

Part of the book series: International Economic Association Series (IEA)

Buying options

Softcover Book USD 49.99
Price excludes VAT (USA)

Table of contents (9 chapters)

  1. Front Matter

    Pages i-xix
  2. Introduction

    • Cristiana Benedetti Fasil, Miguel Sanchez-Martinez
    Pages 1-5Open Access
  3. Macroeconomic Modelling of Innovation Policy: State-Of-The-Art

    1. Front Matter

      Pages 7-7
    2. Innovation, Public Policy and Growth: What the Data Say

      • Ufuk Akcigit
      Pages 9-22Open Access
    3. Innovation and Growth: Theory

      • Omar Licandro
      Pages 23-61Open Access
  4. Impact Assessment of Innovation Policies: Models and Examples for the European Union

    1. Front Matter

      Pages 75-75
    2. The RHOMOLO Spatial CGE Model

      • Martin Aarøe Christensen
      Pages 77-107Open Access
    3. The QUEST III R&D Model

      • Werner Roeger, Janos Varga, Jan in’t Veld
      Pages 109-127Open Access
    4. The NEMESIS Macro-Econometric Model

      • Baptiste Boitier, Pierre Le Mouël, Julien Ravet, Paul Zagamé
      Pages 129-154Open Access
    5. Taking Stock

      • Cristiana Benedetti Fasil, Miguel Sanchez-Martinez, Julien Ravet
      Pages 155-162Open Access
    6. Other Innovation Policies and Alternative Modelling Approaches

      • Cristiana Benedetti Fasil, Giammario Impullitti, Miguel Sanchez-Martinez
      Pages 163-198Open Access
  5. Back Matter

    Pages 199-212

About this book

This open access book encompasses a collection of in-depth analyses showcasing the challenges and ways forward for macroeconomic modelling of R&D and innovation policies. Based upon the proceedings of the EC-DG JRC-IEA workshop held in Brussels in 2017, it presents cutting-edge contributions from a number of leading economists in the field. It provides a comprehensive overview of the current academic and policy challenges surrounding R&D as well as of the state-of-the-art modelling techniques.

The book brings to the forefront outstanding issues related to the assessment of the macroeconomic impact of R&D policies and its modelling. It speaks to the rising importance of R&D and innovation policy, and the proliferation of macroeconomic models featuring endogenous technological change.

The contents of this book will be of interest to both academic and policy audiences working in the fields of R&D and innovation.


  • R&D
  • Innovation policy
  • Macroeconomic modelling
  • Endogenous technological progress
  • Endogenous growth theory
  • Economic growth challenges
  • Open Access

Editors and Affiliations

  • University of Chicago, Chicago, USA

    Ufuk Akcigit

  • European Commission, DG JRC, Brussels, Belgium

    Cristiana Benedetti Fasil, Miguel Sanchez-Martinez

  • University of Nottingham, Nottingham, UK

    Giammario Impullitti, Omar Licandro

About the editors

Ufuk Akcigit is Associate Professor of Economics at the University of Chicago and a faculty research fellow at the NBER and CEPR.

Cristiana Benedetti Fasil is Economic Analyst at the Joint Research Centre of the European Commission.

Giammario Impullitti is Associate Professor at the University of Nottingham.

Omar Licandro is Professor at the University of Nottingham. 

Miguel Sanchez-Martinez is Economic Analyst at the Joint Research Centre of the European Commission.

Bibliographic Information

  • Book Title: Macroeconomic Modelling of R&D and Innovation Policies

  • Editors: Ufuk Akcigit, Cristiana Benedetti Fasil, Giammario Impullitti, Omar Licandro, Miguel Sanchez-Martinez

  • Series Title: International Economic Association Series

  • DOI:

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2022

  • License: CC BY

  • Softcover ISBN: 978-3-030-71456-7Published: 04 November 2021

  • eBook ISBN: 978-3-030-71457-4Published: 03 November 2021

  • Series ISSN: 2662-6330

  • Series E-ISSN: 2662-6349

  • Edition Number: 1

  • Number of Pages: XIX, 212

  • Number of Illustrations: 9 b/w illustrations, 44 illustrations in colour

  • Topics: Economic Growth, Macroeconomics and Monetary Economics, Economics

Buying options

Softcover Book USD 49.99
Price excludes VAT (USA)