Study on the potential of education to cause macroeconomic imbalances and negative spillovers: final report

Medientyp: E-Book

Titel: Study on the potential of education to cause macroeconomic imbalances and negative spillovers : final report

Beteiligte: Andruszkiewicz, Oskar [Mitwirkende:r]; Barrett, George [Mitwirkende:r]; Franke, Jan [Mitwirkende:r]; Lewney, Richard [Mitwirkende:r]; Pollitt, Hector [Mitwirkende:r]; Sers, Martin [Mitwirkende:r]; Vincze, Máté Péter [Mitwirkende:r]

Körperschaft: Directorate-General for Education and Culture ; European Commission, Directorate-General for Education and Culture ; ICF Consulting Services

Erschienen: Luxembourg: Publications Office, 2016

Umfang: 1 Online-Ressource (108 p.); Illustrationen (farbig)

Sprache: Englisch

DOI: 10.2766/942936

ISBN: 9789279356049

Identifikator:

Schlagwörter: education policy ; macroeconomics ; cooperation in the field of education ; labour market ; school-working life relations ; economic consequence ; report

Entstehung:

Anmerkungen: April 2016. - Bibl. : p. 88-98

Beschreibung: The main goal of the study is to demonstrate that sustained or widening differences between the performances of educational systems within the EU may contribute - via labour market outcomes and subsequently through a range wider economic impacts - to the emergence or deepening of macroeconomic imbalances. Within the euro zone, these imbalances cannot be mitigated by currency devaluations, but will need to be addressed by potentially more harmful (growth-inhibiting) fiscal adjustments, and/or large-scale migration of citizens to other Member States of the EU. Consequently, this study explores the economic impacts of education, from the specific viewpoint of the generation of macroeconomic imbalances, considering the indicators used in the Commission's Macroeconomic Imbalances Procedure (MIP). The main output of the report is a model simulation of how persisting differences in the effectiveness of national education systems would create or augment harmful macroeconomic spill-overs between Member States in the euro zone and the EU. To strengthen the economic case behind the simulation exercise, the study provides a logically sound narrative - a simplified chain of causes and effects for which theory exists and empirical findings can be found - with plausible explanations on the nature and some estimated quantitative properties of the links involved. The narrative, the accompanying empirical findings and modelling work are intended to be robust and strong enough to convince stakeholders that looking systematically at the relative performance of education systems is useful to identify potential causes of macroeconomic imbalances. The construction of one all-encompassing causal model, given the complexities of education systems, labour markets and economic activities has not been feasible. Rather, mechanisms and scenarios are described as to what could happen in case the skills and productivity gaps between individual Member States do not narrow as (implicitly) assumed in the EU's long-term economic outlook, emphasising specific persisting gaps among both low-achievers and high-achievers.

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