We study the impact of the Brexit referendum on Irish exporters to the UK. The referendum triggered a sharp devaluation of the British pound vis-a-vis the euro and led to considerable uncertainty about future trade relations between the UK and the EU. Using administrative data on the universe of...

By using very rich individual-level data on workers from 28 European countries, we provide the first so extensive cross-country assessment of wage response to global production links within global value chains (GVCs) in the period 2005-2014. Unlike the other studies, we (i) address the...

The introduction of the euro meant that countries with sovereign debt problems could not use monetisation and devaluation as a way to prevent default. The institutional structures of the euro were also widely thought to prevent a country in difficulties being bailed out by other euro members or...

Rules of Origin (RoO) are essential components of any preferential trade agreement (PTA) short of a full customs union. The recent proliferation of PTAs has led to increased interest in the effects of RoO with empirical estimates consistently showing that they act as barriers to intra-PTA trade....

This paper empirically investigates the transmission of systemic risk across the Euro Area by employing a Global VAR model. We find that a union aggregate systemic risk shock results in a sharp decline in output, with two thirds of the response to be attributed to cross-country spillovers. The...

In line with the recent policy discussion on the use of macroprudential measures to respond to crossborder risks arising from capital flows, this paper tries to quantify to what extent macroprudential policies (MPPs) have been able to stabilize capital flows in Central, Eastern and Southeastern...

The paper looks at two aspects of the Covid-19 pandemic. These are (i) the nature of this event and its implication for evaluating past policy and policy into the future, and (ii) the suitability of proposed changes in the implementation of competition policy affecting firm behaviour, market...

Over the period 2015-2050 the consumption of natural gas of European OECD countries is expected to grow more than the consumption of any other energy source. Although these countries are interconnected and in most cases share a common currency, their wholesale national gas markets are highly...