In this study the economic implications of eastward enlargement are analyzed using a multi-regional, dynamic general equilibrium model. EU's eastern enlargement is, in one respect, conventional regional integration where new entrants joins a customs union. In the common trade policy an important...

This paper deals with the question whether the automatic fiscal stabilisers are strong enough to solve the problem of asymmetric shocks in the Euro area. The question is important for many reasons, for instance in terms of policy coordination and fiscal federalism. The paper reviews the current...

This paper presents a review of OECD forecasts for the G7 countries for the period 1969 - 1997. The analysis deals with the magnitude, auto-correlation and eventual bias of the errors. In addition, we scrutinize the cyclical behavior of errors and try to identify the relationships between...

This paper examines regional and institutional influences on the determinants of long-term economic growth in the OECD. We construct a growth equation based on the new growth model of Barro with a catch-up variable, total investments, total tax revenues exclusive social security benefits,...

This paper reviews the macroeconomic performance of the so called Nordic welfare states, especially in terms of growth and employment. In the post-war years the Nordic economies enjoyed rapid growth and full employment. At the same time, under the rule of Social Democratic governments they also...

In 1992 we published estimations about the probable effects of the EU membership on the Finnish economy. The profound economic shock of the early 1990s has made the assessment of the economic impact of Finland?s EU membership a difficult task. Nonetheless, the basic trends in relative prices,...

The Finnish agricultural support system underwent fundamental changes when Finland joined the European Union. Prior to the EU membership the support was mainly price support. The CAP as well as the reformed agricultural policy outlined in Agenda 2000, means that the agricultural support paid...

The ongoing trade negotiations, unilateral trade concessions and obligations under the WTO are pushing the EU sugar regime to undertake reforms. These reforms will alter the positions of developing countries in the global sugar markets. This paper will describe the trade preferences granted to...