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The eastern expansion of the EU resembles German unification in its momentousness. Whereas the latter led to a 26 …% increase in the population of the Federal Republic, the former will increase the population of the EU by 28% if all ten entry … and western European countries, a massive westward migration can be expected after EU expansion. A temporary east …
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In this paper, we outline a version of the New Area-Wide Model (NAWM) of the euro area designed for use in the (Broad) Macroeconomic Projection Exercises regularly undertaken by ECB/Eurosystem staff. We present estimation results for the NAWM that are obtained by employing Bayesian inference...
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This paper employs stochastic simulations of the New Area-Wide Model - microfounded open-economy model developed at the ECB - to investigate the consequences of the zero lower bound on nominal interest rates for the evolution of risks to price stability in the euro area during the recent...
Persistent link: https://www.econbiz.de/10010200892
This paper takes a welfare-view on eastern enlargement of the EU, focusing on incumbent countries. Enlargement is … decomposed into three elements: Single-market integration on commodity markets, budgetary costs from EU-expenditure policies, and … characteristic inter-country pattern of enlargement-induced welfare effects for all EU15 countries. Aggregating these across …
Persistent link: https://www.econbiz.de/10009749616
Die Osterweiterung der EU verursacht für die bestehenden Mitgliedsländer Kosten. Sowohl die Gemeinsame Agrarpolitik …, als auch die Regional- und Strukturpolitik der EU werden zu einem Nettotransfer von den alten zu den neuen … präsentiert, und die "österreichischen Ergebnisse" werden dann näherungsweise auf die anderen EU-Länder übertragen. Es entsteht …
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