MONROE project brings together an exciting and multi-disciplinary group of macro-economic modellers and empirical researchers. This group includes DSGE, CGE, macro-econometric and regional economic modellers together with specialists in empirical analysis with macro and microeconomic data. The project consortium also includes specialists in theoretical approaches to R&I and R&I policy experts.

MONROE project involves six partners from five EU countries, striking a balance between academia, SMEs, research centres and public bodies. The consortium partners are (click or tap to select):


PBL Environmental Assessment Agency (Project Coordinator) – The Netherlands

University of St. Gallen – Switzerland

Centre for European Economic Research – Germany

University of Surrey – United Kingdom

E3 Modeling – Greece

Cambridge Econometrics – United Kingdom

The Netherlands Environmental Assessment Agency


The Netherlands Environmental Assessment Agency (PBL) is the Dutch national institute for strategic policy analysis in the field of environment, nature and spatial planning. PBL’s research programme includes scientific assessments and policy evaluations in an (inter)national context. Research at PBL is carried out on PBL’s own initiative, or at the request of the government, parliament, and individual members of parliament or international organizations. PBL is a part of the Ministry of Infrastructure and the Environment, though fully independent as far as the contents of its work are concerned. It also has its own legal mandate and an independent executive and advisory committee. Since the late 1980s, a core task of PBL has been to perform integrated assessments on the basis of extensive monitoring, modelling and scenario analysis. PBL has leading and relevant roles in projects for DG Environment, DG Climate and DG Research supporting EU policy development and high profile global assessments for clients such as UNEP, OECD, IPCC and the European Union. PBL’s work programme is distinctly multi-scale: regional, national, European as well as global. The regional economics group at the PBL has an excellent track record on both scientific policy advise in combination with peer reviewed scientific publications.

MONROE project responsible:

Dr. Olga Ivanova, Senior Researcher Economic Modelling (female), holds a PhD degree in Applied Economics and a Master of Science degree in Environmental and Development Economics from the University of Oslo. At present she works as a senior researcher at PBL Netherlands Environmental Assessment Agency with the project on regional competitive position and economic growth of European regions. In the past she has worked as a senior researcher at Strategy and Policy group of TNO. She has coordinated the project on the construction of the world-wide CGE model EXIOMOD, that allows for simultaneous representation of monetary and physical flows as well as the project on the construction of RHOMOLO regional-economic model of EU28 for DG REGIO. She has acted as a WP leader of the project of DG ENV called ‘Assessment of Scenarios and Options towards a Resource Efficient Europe: An Analysis for the European Built Environment’. She has also coordinated the modelling Work package of DG CLIMA projects on ‘Assessing the Implications of Climate Change on Employment in the EU’ and ‘Climate extremes: defining a pilot approach on estimating the direct and indirect impacts on economic activity’. She was a research coordinator of modelling WPs of several large FP7 projects including (1) EmInInn project that investigates the ex-post and ex-ante effects of main technology, process and product innovations; (2) FLAGSHIP project that quantifies the scenarios of the development of the world in the coming fifty years and (3) COMPLEX project that aims to construct the new type of model for quantifying the effect of climate mitigation policies by combining Computable General Equilibrium with Agent-based modelling.

The University of Surrey


The University of Surrey is a global university with a world-class research profile that hosts a School of Economics with a strong international reputation for research in key areas of economics including macroeconomics, regulation, game theory, energy and econometrics. Many members are active as economic advisors to governmental and prestigious international organisations including the IMF, the European Central Bank, the Bank of England and HM Treasury. The Centre for International Macroeconomic Studies (CIMS) grew out of a very active macroeconomics group in the School over a number of years. Its current research focuses on closed and open-economy macro-modelling in both developed and emerging economies, using a Dynamic Stochastic General Equilibrium (DSGE) approach in order to explore a range of monetary, fiscal and banking regulation policy issues. CIMS also runs regular short course on DSGE modelling.

MONROE project responsible:

Dr. Tom Holden received his undergraduate degree in Mathematics and Philosophy from the University of Oxford in 2005. He went on to study Economics there at post-graduate level from 2006, receiving his MPhil in 2008 and completing his doctoral thesis in 2011. He joined the University of Surrey as a full-time lecturer in September 2011. Dr Tom Holden is one of the pioneers in the modelling of endogenous growth in a DSGE framework, and has been the first to build a model capable of matching both the very long run near log-linear growth in frontier economies, and the large medium frequency cycles around that trend. He is also working on learning and heterogeneous agent models.

The University of St. Gallen


The University of St. Gallen is a Swiss university specialized in economics and business. It is one of the leading business schools in Europe. It has strong macroeconomic and growth expertise, both at the theoretical and empirical level. Policy-relevant issues are constantly analysed and policy recommendations are regularly given by many of its staff. A number of its members have published on top journals, including the American Economic Review, the Journal of Political Economy, the Quarterly Journal of Economics, Econometrica, etc., while several others are serving and have served as experts for the European Commission, the Swiss National Bank, the WTO, etc.

MONROE project responsible:

Dr. Guido Cozzi, Full Professor in Macroeconomics (male), holds a PhD degree in Economics at New York University. At present he works as professor of macroeconomics at the university of St. Gallen. He is in the top 10% economists in the economics of innovation and in other fields. He has published actively on the leading journals in economics. His main fields of expertise are macroeconomics and economic growth, with special interest in R&D-driven growth and in human capital formation. He has worked as invited expert for the European Commission, in charge of helping with the extension of DSGE models such as QUEST III in several directions, including introducing endogenous growth and R&I effectively for policy evaluation.



E3-Modelling is a spin-off company based on know how created through research activities performed since 1988, within the Institute of Communication and Computer Systems (ICCS) of the National Technical University of Athens. The key focus of E3-Modelling is to provide model-based policy relevant applied research and assessment of the macro-economic, energy and climate implications of climate change and sustainable development policies. E3-Modelling specializes in the development and use of large scale applied models and performs applied research focusing in the fields of economy, energy and the environment. The company supports policy analysis by employing complex large scale applied mathematical models. Such models are used to make projections and analyze complex issues requiring system wide consideration, while providing research support for energy and climate policy analysis. E3-Modelling has already significant references with projects using major large-scale models such as PRIMES, PRIMESTREMOVE, GEM-E3 and PROMETHEUS. The key personnel of E3-Modelling have assisted institutions in developing their own models and using such models in policy analysis. Support has been provided to IPTS (Joint Research Centre of the European Commission) and Romanian government to train and familiarise their staff in the operation, development and use of computable energy-economy-environment models.

MONROE project responsible:

Dr. Leonidas Paroussos holds a degree in Economics from the National and Kapodistrian University of Athens. He has an MSc in Finance from the University of ESSEX, UK and a PhD in “Energy and Climate Change: An Economic Analysis in the Context of Computable General Equilibrium”. He is a researcher in the general equilibrium modelling team of E3MLab/ICCS and he has 15 years of experience in modelling particularly in the development of the GEM-E3 model. He is experienced in transport economics, climate change policy assessment, environmental economics, energy analysis, macroeconomic and regional modelling. He is an expert in collecting and reconciliating large datasets following the regular database updates and modelling extensions of the GEM-E3 model.

Centre for European Economic Research


The Centre for European Economic Research (ZEW) in Mannheim is one of the leading economic research institutes in Germany and is a member-institute of the “Leibniz-Gemeinschaft”, a network of research institutes with outstanding scientific qualifications. The institute addresses decision-makers in politics, business, and administration, scientists in the national and international arena as well as the interested public. ZEW takes a predominantly microeconomic and microeconometric research approach to its research work and co-operates closely with other scientific disciplines. In this context, the research institute distinguishes itself, inter alia, in the analysis of internationally comparative questions in the European context and in the creation of databases which are eminently important as a basis for scientific research. The work in this project will be conducted by ZEW’s Research Department of Environmental and Resource Economics, Environmental Management. Applying general equilibrium models, experimental approaches and econometric methods, the department provides valuable advice to policy-makers from the German federal government and the European Commission.

MONROE project responsible:

Dr. Sebastian Voigt studied economics at the Humboldt University of Berlin and received his diploma in 2006. He focused on econometrics and operations research. He received his PhD from the University of Heidelberg in June 2013. His PhD thesis is entitled “The Impact of Environmental Policy on Economic Indicators: Moving from Global to Sectoral and Regional Perspectives”. Since June 2007, he has been working as a researcher at ZEW, Department of Environmental and Resource Economics, Environmental Management. His main research interests include quantitative economic modelling and the evaluation of climate policies. In the department he coordinates the research area Macroeconomic Analysis of Environmentally Relevant Policies and he acts as deputy head.

Cambridge Econometrics


Cambridge Econometrics (CE) is an SME that specialises in the application of economic modelling and data analysis techniques for policy analysis. CE has particular expertise in the analysis of highly disaggregated data sets. The work of the company covers regional and local analysis in the UK and Europe, and energy-economy-environment analysis at UK, European and global levels. In particular, the highly-regarded E3ME macro-econometric model is now widely used in Europe and globally for analysis across a range of different policy areas, including research and innovation. CE has a strong track record of innovative and successful model development and application.

MONROE project responsible:

Hector Pollitt holds overall responsibility for maintenance and application of the global macro-econometric E3ME model – including for European Impact Assessment. He has worked on a range of applications of the model relating to innovation, including R&D expenditure and the interaction between human and physical capital. He is currently managing a large ongoing study for DG ENER on the role of finance and innovation in determining the outcomes of energy policy, in which the E3ME model is being developed to include a better representation of the diffusion of household energy efficiency technologies. Hector is also familiar with CGE and DSGE modelling approaches and has carried out several model review and comparison exercises for the Commission services. He led the team that compiled the latest version of the EC’s IA Tools model inventory and the recent update to the UNFCCC’s inventory of energy and energy-economy models.