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The EU protects agriculture and manufacturing through its commercial policies, namely its tariffs, its non-tariff barriers and the Common Agricultural Policy. By leaving the EU the UK would be able to abandon the EU’s protectionist system in favour of free trade combined with transitional...
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We estimate the short run effects of Brexit border disruption on the UK economy. We estimate a structural VAR for the … UK where Brexit effects are identified by the dates of Brexit events, the referendum and the exit from the single market …. We find evidence of short run effects of Brexit: temporary effects on GDP, exports and imports (slightly negative),and on …
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We look for statistically significant effects of Brexit events in UK data relationships. We find evidence of trade … disruption by Brexit departure from the single EU market, much as we would expect. However, with investment, we find no … statistically significant effects of Brexit. With GDP, inflation and interest rates we find some positive effects due to the fall in …
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Stochastic simulations are used on the Liverpool Model of the UK to assess the effect of UK euro entry on macroeconomic stability. Instability increases substantially, particularly for inflation and real interest rates. A key factor is the extent of the euro's instability against the dollar; by...
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