coordination. In particular we provide estimates for New EU Member States where we take into account two aspects. First, debt …

, Central and South Eastern European countries that joined the EU after 2004. We find that these EU11 countries have benefitted … within the EU. The analysis is conducted with the macroeconomic model QUEST that distinguishes between all EU member states … and effects on EU value chains via lower prices for intermediates. GDP effects depend heavily on the degree of openness …