This paper examines the drivers, and reestimates the size of shadow economies in Europe, with a focus on the emerging … economies, and recommends policies to increase formality. The size of shadow economies declined across Europe in recent years … but remains significant, especially in Eastern Europe. In the emerging European economies, the key determinants of shadow …

activity around the world. We present a parsimonious two-country-SIR model with some degree of substitutability between home …

Although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and … financial linkages with the rest of the world mean that it will still be affected by a shift in the current configuration of … external deficits and surpluses. We assess the macroeconomic impact on Europe of global current account adjustment under …

and panel data from western Europe, exchange rate uncertainty is found to have a negative effect on international trade …