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and the US. Second, it may improve macroeconomic management by increasing the responsiveness of wages and prices to market …
Persistent link: https://www.econbiz.de/10012468277
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/10012473587
. This leads us to distinguish an EC "core" (made up of Germany and its immediate neighbors) and an EC periphery (made up of …
Persistent link: https://www.econbiz.de/10012475031
of adjustment to these shocks are then compared to the results from US regional data. We find that the underlying shocks … are significantly more idiosyncratic across EC countries than across US regions, which may indicate that the EC will find … neighbors, experience shocks of similar magnitude and cohesion as the US regions. EC countries also exhibit a slower response to …
Persistent link: https://www.econbiz.de/10012475032