Das am 26. März 1995 in Kraft gesetzte Schengener Abkommen hat einen Europäischen Binnenraum der Personenfreizügigkeit geschaffen und damit ein beispielloses kontinentales Integrationsziel erreicht. Die Bedrohung durch globalen Terrorismus sowie ein starker Anstieg der Flüchtlingszahlen in...

Inflation is a monetary phenomenon. While this statement is widely accepted in terms of a long-run relationship, the quantity theory has been made operational also for the short-run dynamics of inflation by so-called Pstar models. An error correction model with quarterly data for the Euro Area...

With ever-increasing political tensions between China and Russia on one side and the EU and the US on the other, it only seems a matter of time until protectionist policies cause a decoupling of global value chains. This paper uses a computable general equilibrium trade model calibrated with the...

Das ifo Institut hat im Auftrag des Bundesministeriums für Wirtschaft und Technologie die vorliegende Evaluierungsstudie zu den Dimensionen und Auswirkungen eines Freihandelsabkommen zwischen der EU und den USA durchgeführt. Die Studie zeigt, dass ein tiefgreifendes Handelsabkommen...

On 9 december 2016, the upper house of Japan's parliament approved the Trans-Pacific Partnership (TPP). Prime Minister Shinzo Abe has pushed for the TPP's ratification despite US President Trump's decision to pull out the deal, insisting it would send a signal about Japan's continuing support to...

Do the U.S. have a current account surplus or a deficit with the EU? Since 2009, official sources disagree: The U.S. Department of Commerce claims a consistent U.S. surplus while Eurostat reports the opposite. International transactions are notoriously difficult to measure accurately, but the...

When, about twenty years ago, the Euro was created, one objective was to facilitate intra‐European trade by reducing transaction costs. Has the Euro delivered? Using sectoral trade data from 1995 to 2014 and applying structural gravity modeling, we conduct an ex post evaluation of the European...

The world runs a trade surplus with itself: Exporters report larger values of exports than what importers report as imports. This is a logically impossible but well known empirical fact. Less well known, in recent years, more than 80 percent of the global surplus is a trade surplus that the EU...

Since June 2007, the EU and India have been negotiating a comprehensive free trade agreement, but negotiations broke down in 2013. Nevertheless, both sides have expressed their desire to revive talks on the Broad-based Trade and Investment Agreement (BTIA). To quantify potential economic...