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This paper provides an overview of the likely impact of the creation of the European Community (EC) internal market on the European Free Trade Association (EFTA) members. The focus is on the four freedoms and the institutional and legal changes required for increased economic cooperation between...
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The global recovery continues. Although it is not yet complete, the more favorable conjuncture offers an opportunity to tackle key policy challenges to stave off medium-term downside risks, rebuild buffers, and raise potential output. Countries should undertake well-sequenced reforms to increase...
Persistent link: https://www.econbiz.de/10014408704
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, reserves, capital flows, and external balance sheets of the world's largest economies. The 2018 edition includes an analytical …
Persistent link: https://www.econbiz.de/10014408937
The past few decades have seen important shifts that have reshaped the global trade landscape. As a share of global output, trade is now at almost three times the level in the early 1950s, in large part driven by the integration of rapidly growing emerging market economies (EMEs). The expansion...
Persistent link: https://www.econbiz.de/10014410225
Efforts to liberalize world trade are increasingly focusing on strengthening the links between low-income countries … developing countries to choose fuller participation in the world trading system …
Persistent link: https://www.econbiz.de/10014411036
set up by treaty in 1945 to help promote the health of the world economy. Through its work, the IMF helps to keep the … world economy running as smoothly as possible. Its work is aimed partly at the prevention of economic and financial crises … countries' economic size, determine countries' voting power in the IMF and the limits to what they can borrow. The IMF and World …
Persistent link: https://www.econbiz.de/10014397381
The paper explores the relationship between trade policy and current accounts. The effect on the current account of a change in protection at home and then abroad is analyzed, assuming that the exchange rate floats. The “savings-and-investment approach” is used. It shows that there is no...
Persistent link: https://www.econbiz.de/10014396105
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...
Persistent link: https://www.econbiz.de/10014402215