We are doing science for policy
The Joint Research Centre (JRC) is the European Commission's science and knowledge service which employs scientists to carry out research in order to provide independent scientific advice and support to EU policy.
The JRC is providing dedicated support to the EU’s goals of improving the economic and monetary union’s fiscal governance while fostering more sustainable levels of growth and employment. In this context the JRC provides expertise in modelling and development of models, assessing impacts of policy changes and macroeconomic analysis.
The JRC expertise in modelling supports Commission services dealing with financial markets regulation, competition and taxation policies. The SYMBOL model (Systemic Model of Banking Originated Losses), developed by the JRC contributes to evaluating the impacts of proposed legislation on banking regulation.
The JRC contributes to monitoring the state of the EU economy through the development, estimation and simulation of QUEST III, supporting the activities of the Commission’s Directorate-General for Economic and Financial Affairs.
The JRC helps to estimate the potential growth and output gap with supports the implementation of the Stability and Growth Pact (SGP), which is a framework for the coordination of national fiscal policies from economic and monetary union (EMU) members.
In order to support he EU’s regional policy, aiming to reduce disparities between different European regions, the JRC is developing a model that takes into account a variety of economic and social dimensions of regions such as sectors of the economy, labour market and capital requirement factors as well as government tax-collection process.