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Over time, the European Union has acquired more and more of the attributes of a state and, in economic terms, it can arguably be considered a single market. Nevertheless, the differences between member states are enormous. Small, rich countries, such as Luxembourg, contrast sharply with big,...
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Event studies represent an increasingly popular method to evaluate the welfare effects of economic policy decisions. The basic idea is that stock market reactions to the announcement of policy decisions contain superior information about the welfare effects of these decisions. This paper...
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