Monetary developments of recent decades began with much promise with inflation targeting by independent central banks; the financial crisis of 2007 ushered in a period of great monetary instability. There are lessons for a return to more stability. Central banks need to stabilize money supply...

We estimate the short run effects of Brexit border disruption on the UK economy. We estimate a structural VAR for the UK where Brexit effects are identified by the dates of Brexit events, the referendum and the exit from the single market. We find evidence of short run effects of Brexit:...

Foreign trade is an important mechanism for economic integration with other countries, and plays a significant role in economic growth. The possible impacts of EU membership on Estonian foreign trade have been discussed for years without reaching a clear conclusion. Although the current paper...

The EU economies and their labour markets will face new challenges in the near future as the Union enlarges to cover the CEE countries and the mobility of labour becomes free within the region. This paper first discusses estimates made on the likely magnitude of the coming immigration and then...

The aim of the project was to provide an overview of the competitiveness of the forest-based and related industries in the 10 CEECs, from the Finnish point of view, and to study in particular the development potential for the Finnish packaging industry in the region. An important question is...

Tässä selvityksessä arvioidaan EU:n itälaajenemisen vaikutuksia Suomen tulevaan väestökehitykseen. Arviointia varten mallinnetaan ekonometrisesti Suomeen suuntautunutta nettosiirtolaisuutta Suomen ja läntisten teollisuusmaiden elintasoeron avulla. Ennustelaskelmissa tätä työvoiman...

This paper combines the features of outsourcing theory, the principal-agent model and institutional economics, and gives the guidelines how the firms in the Baltic countries might survive in the enlargened EU markets. Such guidelines are presented in three stages to demonstrate an institutional...

Economic relations between the European Union and the accession countries of Central and Eastern Europe (CEE) were liberalised by Europe Agreements after the early 1990s. Free trade and investment have the potential of changing the structure of countries’ trade although with some restrictions...

Using pooled mean-group estimation we first analyse conditional convergence in the EU15 area in 1960-2002. Conditional convergence is well documented for the EU15 countries and deeper European integration is mostly shown to have fastened convergence. Also higher investment, lower public...