firms? And in the European context, have key elements of the EU strategy such as EMU and enlargement helped or hindered … located in participating economies. Enlargement has, instead, two contrasting effects. It improves the accessibility of EU …

I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare … gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in … firms in the new EU countries. When there is no foreign ownership in the new EU countries, the euro area is indifferent …