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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 8 Elasticities on the wage rate (S1) and elasticities of production multiplied (S2 and S3) by 0.75

From: The short-run effects of EU funds in Spain using a CGE model: the relevance of macro-closures

 

Base year

S1: NEO-wage

S2: NEO-prod

S3: KEY-prod

Main aggregates and welfare index

Unemployment rate (%)

9.16

9.136

9.131

8.101

Employment growth rate

0.026

0.031

1.166

Variation of households’ net disposable income

612,277.00

0.041

0.040

−0.365

Variation of consumer price index

0.025

0.022

−0.633

Households’ welfare

28,220.33

0.016

0.017

0.277

Nominal GDP

908,792.00

0.116

0.115

−0.050

Real GDP

908,792.00

0.087

0.090

0.679

Demand side aggregate variables

Private consumption

545,763.00

0.041

0.040

−0.365

Total private investment

234,489.20

−2.422

−2.414

−0.588

 Non-residential private investment

155,335.40

−3.677

−3.664

−0.702

 Residential private investment

79,153.80

0.041

0.040

−0.365

 Public consumption

171,787.00

0.040

0.036

−1.011

 Public investment

32,552.80

14.907

14.904

14.138

 EU current balance

20,965.00

−24.553

−24.532

−18.856

 ROW current balance

46,807.00

−0.479

−0.475

0.301