income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 47 percent of the shock are … absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of … up to 30 per cent in the EU and up to 20 per cent in the US. There is large heterogeneity within the EU. Automatic …

voter.The paper models the host country stylistically as a member of the core of an economic union (i.e., a core EU welfare …. The source country is modeled as an accession country to an economic union (i.e., through the EU enlargement treaty), with …

deviations in the global financial crisis (GFC), while EU banks' credit risk and market risk were useful in explaining the … deviations in the Euro crisis. In particular, EU banks' credit risk and market risk had asymmetric effect on the deviations. The …

among the EU 15 and EU 10 in the enlarged European Union, as of 2004. We also demonstrate that the notion that the mere …

other E.U. nations. With less E.U. technology deployed in the United Kingdom, U.K. firms increase investment in their own R … Europe. If instead we assume that the European Union imposes the same restrictions on U.K. FDI, then E.U. firms invest more … in their own R&D, benefiting the United Kingdom. With costs higher on both U.K. and E.U. FDI, we predict a significant …

trade policy risk across products and asymmetric for UK and EU exporters. We estimate that a persistent doubling of the … probability of Brexit at the average disagreement tariff of 4.5% lowers EU-UK bilateral export values by 15 log points on average …, and more so for EU than UK exporters. Neither believed a trade war was likely.Institutional subscribers to the NBER …

In the UK's 2016 referendum on EU membership, young voters were more likely than their elders to vote Remain. Applying …