The paper explores the economic implications of the possible Turkish accession to the European Union. It focuses on three main changes associated with Turkish membership: (i) accession to the internal European Market; (ii) institutional reforms in Turkey triggered by EU membership; and (iii)...

At the December 2003 European Council, EU Heads of State and Government adopted a European Security Strategy, with a view to assisting necessary prioritisation and further elaboration of EU foreign policy activities. The Strategy document identifies the key security challenges facing Europe in...

Das "Deutsche Institut für Internationale Politik und Sicherheit" der Stiftung Wissenschaft und Politik (SWP) ist eine unabhängige wissenschaftliche Einrichtung, die auf der Grundlage eigener, praxisbezogener Forschung den Deutschen Bundestag und die Bundesregierung in allen Fragen der Außen-...

The purpose of the evaluation is to provide a comprehensive and independent assessment of the European Union (EU)’s past and present cooperation in Ivory Coast, in order to draw key lessons and make recommendations for the future, including within the context of joint programming between the...

The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...

This paper examine differences between risk-neutral and objective probability densities of future interest rates. The identification and quantification of these differences are important when risk-neutral densities (RNDs), such as option-implied RNDs, are used as indicators of actual beliefs of...

Two seemingly unconnected empirical results suggest an intriguing mechanism. First, economic integration helps harmonize prices internationally, with trade being the primary channel (Rogoff 1996, Goldberg and Knetter 1997). Second, monetary union may greatly increase the amount of trade among...