Anders Due Madsen () and Morten Lobedanz Sørensen ()
Anders Due Madsen: Danish Rational Economic Agent Model, DREAM, Postal: Landgreven 4, 7. sal, 1301 København
Morten Lobedanz Sørensen: Danish Rational Economic Agent Model, DREAM, Postal: Landgreven 4, 7. sal, 1301 København
Abstract: This article presents the results of an analysis of the economic consequen - ces for Denmark of the enlargement of the European Union. Working within an applied general equilibrium framework, the effects of the enlargement are quantified with respect to the macro economy, production structure and welfare. The paper demonstrates the relative importance of several elements of the enlargement. Specifically, we address the merits of an enlarged single market, the repercussions for Danish receipts of transfers from EU funds, enhanced growth in the accession countries, and finally increased immigration of labour. The fully specified enlargement (excluding increased immigration) is shown to give rise in Denmark to a small long-run increase in the level of domestic activity of 0.8 percent and to moderate welfare gains amounting to 1.27 percent of 1998 GDP.
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