A recent Commission Staff Working Paper, based on collaborative research with Groupe d'Economie de Mondiale in Paris, estimates that the Common Agricultural Policy reduces GDP in the European Union, and lowers overall global welfare by about US$45 billion.The Common Agricultural Policy (CAP) of...

The Common Agricultural Policy (CAP) of the European Union has undergone significant reform since the early 1990s, with the aim of improving its market orientation. There is an increasing focus on breaking the link between direct income payments and production decisions — so called...

International trade produces income gains across the world by facilitating an efficient allocation of production among trading countries. However, increased trade exposure also creates some challenges, and there are adjustment costs associated with changing trade patterns. Effective...

International trade produces income gains across the world by facilitating an efficient allocation of production among trading countries. However, increased trade exposure also creates some challenges, and there are adjustment costs associated with changing trade patterns. Effective...