This chapter examines the macroeconomic benefits that membership of the Single Market has given to the 11 Baltics, Central and South Eastern European countries that joined the EU after 2004. We find that these EU11 countries have benefitted particularly from membership of the internal market...

This paper uses a multi region DSGE model with collateral constrained households and residential investment to examine the effectiveness of fiscal policy stimulus measures in a credit crisis. The paper explores alternative scenarios which differ by the type of budgetary measure, its length, the...