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Austria's EU accession 25 years ago, alongside Finland and Sweden, was preceded by an extended period of convergence … toward the EU: via the free trade agreement concluded with the EC in 1973, and the participation in the European Economic … Area (EEA) in 1994. Although the COVID-19 crisis in 2020 seems to overshadow the overall positive balance of 25 years of EU …
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With a large-scale econometric world model we derive policy multipliers and the parameters for the utility functions for 10 EMU countries and for the ECB. The gains from cooperation are calculated by comparing two equilibria, a Nash and a cooperative equilibrium. The cooperative equilibrium is...
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A new macroeconomic evaluation of EU enlargement is undertaken with a world macroeconomic model taking into account all … gain around ten times more from enlargement than the EU. On average, enlargement is a win-win game. Hungary and Poland can … percent). The EU on average would gain around ½ percent of real GDP over a six year period. However, the impact is quite …
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Overall, the ECB managed monetary policy quite satisfactory in the first phase of EMU. Nevertheless, this paper asks whether monetary policy could not have been improved. In the last three years, Euroland was confronted with the first external shock. Oil prices increased considerably, leading to...
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We estimate the pro-competitive effects of Austria's participation in the Single Market after its EU accession in 1995 …
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