Macro-Economic Models for R&D and Innovation Policies

This report compares the modelling of R&D in four macroeconomic models used by the European Commission for ex ante policy assessment: QUEST, RHOMOLO, GEM-E3 and NEMESIS, which are. Whereas the former three are general equilibrium models, the latter is a reduced form macro-econometric model. The report highlights those parts of the models that are relevant to R&D transmission mechanisms and interfaces for implementing policy shocks.JRC.J.2-Knowledge for Growt