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Under alternative assumptions on the likely developments in external financing of PCPE transition, and based on a multi-country, forward-looking model that includes a simplified PCPE block, we simulate the response of PCPEs to a transfer of capital from the industrial countries, and assess the...
Persistent link: https://www.econbiz.de/10014398206
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...
Persistent link: https://www.econbiz.de/10012155041
This paper investigates whether a regional bloc would enlarge or remain stagnant in size using a model where enlargement is the endogenous outcome of the interaction between the supply of and demand for membership. We show that a maximum size of the bloc exists beyond which the regional...
Persistent link: https://www.econbiz.de/10014400446
and Eastern Europe and selected Mediterranean countries that aspire to join the European Union (EU). After describing the … current institutional framework for their relations with the EU, the paper examines two basic categories of institutional … stemming from the need to adopt the EU’s institutional and legal provisions in the area of EMU …
Persistent link: https://www.econbiz.de/10014400669
first compares income gaps between Central and Eastern European and European Union (EU) countries, then evaluates recent … economic performance in Central and Eastern Europe in light of EU standards. Finally; addresses the question of how long it … will take the Central and Eastern European countries to close the income gap with EU countries …
Persistent link: https://www.econbiz.de/10014400670
product trade orientation. The growth of EU-oriented output within sectors of industry, ex-post trade, and market … non-EU-oriented output within sectors is modeled as unobservable deterministic heterogeneity. The results indicate that … explained by the inherited presence of EU-oriented production and its unconstrained growth over the transition period …
Persistent link: https://www.econbiz.de/10014403410
The paper analyzes foreign exchange market volatility in four Central European EU accession countries in 2001-2003. By …
Persistent link: https://www.econbiz.de/10014404125
these countries are also compared to EU countries that currently do not participate in the EMU. Focusing on the period 1993 …
Persistent link: https://www.econbiz.de/10014401455
The likely enlargement of euro-area membership will radically change the environment under which monetary policy will be made in the euro area. Within less than a decade, the number of member countries in the euro area could more than double, with the vast majority of accession countries being...
Persistent link: https://www.econbiz.de/10014399555
The sheer size of mandated trade among members of the Council for Mutual Economic Assistance (CMEA), and its composition and quality, means that its reorientation toward other markets entails a whole complex of structural adjustment policies. To be successful, policy reform must be...
Persistent link: https://www.econbiz.de/10014396289