A withdrawal of a member state from the EMU due to market pressure has been a rather popular topic in the public debate in recent years. However, the effects of a withdrawal have been analysed quantitatively surprisingly little. Discussions have been concentrated on the crisis countries, but as...

In order to shed light on the consequences of the ongoing financial crisis, ETLA conducted two surveys at the end of October 2008. The firm survey targeted firms employing at least 10 persons in Finland (2,017 observations with a response rate of 33%) and the consumer survey targeted...