Country-specific business cycle fluctuations are potentially very costly for member states of currency unions because they lack monetary autonomy. The actual costs depend on the extent to which consumption is shielded from these fluctuations and thus on the extent of risk sharing across member...

Country-specific business cycle fluctuations are potentially very costly for member states of currency unions because they lack monetary autonomy. The actual costs depend on the extent to which consumption is shielded from these fluctuations and thus on the extent of risk sharing across member...

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 single-market-induced migration from new to present...

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 Mitgliedsländern führen. Zugleich aber wird es zu...