Showing 1 - 10 of 14
This paper explores price differences in the European Union (EU) pharmaceutical market, the EU's fifth largest industry …. With the aim of enhancing quality of life along with industry competitiveness and R&D capability, many EU directives have … been adopted to achieve a single EU-wide pharmaceutical market. Using annual 1994-2003 data on prices of molecules that …
Persistent link: https://www.econbiz.de/10013139285
the language of Obstfeld and Taylor (2004). We find evidence that capital market integration within the EU is less than …
Persistent link: https://www.econbiz.de/10012759795
of migration. We argue that the differences between the U.S. and the EU - the degree of coordination among the member …
Persistent link: https://www.econbiz.de/10013014302
economic union. Unlike Europe with the EU and the 1997 treaty of Rome and the 1993 NAFTA in North American, Asian economic …
Persistent link: https://www.econbiz.de/10013048052
What are the macroeconomic effects of tax adjustments in response to large public debt shocks in highly integrated economies? The answer from standard closed-economy models is deceptive, because they underestimate the elasticity of capital tax revenues and ignore cross-country spillovers of tax...
Persistent link: https://www.econbiz.de/10013046730
This paper considers the impact on trade of preferential arrangements in Europe since the 1950s. Using a first difference version of the gravity model, we find that the EC and EFTA altered the pattern of international trade. We also find evidence of trade diversion in several cases, notably that...
Persistent link: https://www.econbiz.de/10013224188
Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to satisfy the McMillan criterion of not lowering their trade volume with outside countries, they have to engage in a dramatic reduction of trade barriers against non-member countries....
Persistent link: https://www.econbiz.de/10013225933
Despite the recent inroads made by models of interregional trade based on external" economies, the analysis of the long-run trends in U.S. regional specialization in agriculture manufacturing, wholesale trade, retail trade, services, and all economic activities indicate that" these trends are...
Persistent link: https://www.econbiz.de/10013231563
Are there systematic forces such that countries of different sizes participating in a free trade bloc gain differently from the entry of new members? If economies of scale imply that firms located in large countries enjoy lower costs, then the gains from enlarging the bloc will fall...
Persistent link: https://www.econbiz.de/10013214599
very large firm-level dataset from EU countries over time, we construct a measure of "deep" financial integration at the … transposition dates of EU-wide legislation, we find that high trust regions in countries who harmonized capital markets sooner have …
Persistent link: https://www.econbiz.de/10013144963