MACMIC - Database of simulations/estimates of the macroeconomic impact of microeconomic reforms
The Lisbon strategy aims to promote structural reforms that can foster growth and employment through improved functioning of product, labour and financial markets and more innovation. But uncertainty about the effects of many structural reforms makes it difficult to design and implement effective reform strategies.
In order to reduce this technical uncertainty, the Commission has launched MACMIC. This database gathers the results of modelling exercises and econometric analyses that quantify the effect of microeconomic and structural reforms on macroeconomic variables.
MACMIC - A comprehensive database
This stocktaking exercise is designed to bring together in a single comprehensive, consistent and mutually comparable database the considerable body of existing evidence on the effects of reforms:
Aim of MACMIC
MACMIC is an analytical tool that can be used to help assess the impact of planned/enacted structural reforms in the context of the Lisbon strategy and to prioritise reform across policy areas.
MACMIC is intended to include any type of model-based simulations or econometric estimations on past data (time-series or panel) which show the impact of structural policies on the main macroeconomic variables (GDP, employment, wages, etc.).
The reported results are typically presented in the form of "reform multipliers", capturing the percentage response of the given macroeconomic variable compared with the baseline level, say GDP, to a given policy impulse.
The work should be seen as part of DG ECFIN's wider efforts to collect, organise and make available information on structural reforms that are being implemented in Member States.
MACMIC can be used for:
Your feedback is welcome
MACMIC already contains a significant amount of data. However, DG ECFIN invites researchers who work on the effects of structural reforms to provide information on their findings for inclusion in MACMIC.
How to give us your feedback
Please send us your data on the form provided. We also welcome any comments on the results which are already included in the database – again, on the form provided, which should be sent back to us by e-mail.
After conducting a quick quality check, we will incorporate these changes into the master version.