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Implementation of a new macro-economic modelling concept

This action will operationalise the recommendations of the “Expert Group to advise on further development of the macro-economic modelling agenda” run during the period 2019-2020, which can be found in the report of the Group[[The report is available here: https://op.europa.eu/en/publication-detail/-/publication/47086c5e-f249-11ea-991b-01aa75ed71a1/language-en/format-PDF/source-153127582.]]. Based on these, it will implement a renovated macro-economic modelling concept to improve the treatment of R&I and R&I policies in macroeconomic models, by developing a modelling framework consistent with the most recent empirical evidence and the theoretical state of the art.