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The U.K.'s decision to leave the EU and the voting in of the protectionist Donald Trump to the US presidency has drawn both the UK and the USA into the Nash Trap.U.S. mathematician John Nash (the movie ‘A Beautiful Mind') postulated that Adam Smith's declaration that ‘In competition,...
Persistent link: https://www.econbiz.de/10012959184
Following the financial crisis, total outstanding loans to businesses by commercial banks dropped off substantially. Large loans outstanding began to rebound by the third quarter of 2010 and essentially returned to their previous growth trajectory while small loans outstanding continued to...
Persistent link: https://www.econbiz.de/10013049258
We estimate the impact of the COVID-19 crisis on business failures among small and medium-size enterprises (SMEs) in …
Persistent link: https://www.econbiz.de/10013232582
We estimate the impact of the COVID-19 crisis on business failures among small and medium-size enterprises (SMEs) in … aggregate supply, productivity, and demand shocks. We estimate a large increase in the failure rate of SMEs under COVID-19 of …
Persistent link: https://www.econbiz.de/10012392364
The trajectory of new business applications and transitions to employer businesses differ markedly during the Great Recession and the COVID-19 recession. Both applications and transitions to employer startups decreased slowly but persistently in the post-Lehman crisis period of the Great...
Persistent link: https://www.econbiz.de/10012425080
Galvanized by the devastation of the Second World War, European countries achieved a historically unprecedented and unparalleled level of regional economic integration in the postwar period. Intensive cooperation between the two biggest powers of continental Western Europe, France, and Germany,...
Persistent link: https://www.econbiz.de/10012610084
The Brexit vote has considerably increased economic uncertainty in Europe and beyond. It will likely affect economic performance and in particular investment in the euro area, which are both already relatively weak. The impact of this uncertainty shock on the euro area and the German economy is...
Persistent link: https://www.econbiz.de/10011522293
Die Entscheidung für einen Brexit hat die Konjunkturängste innerhalb und außerhalb Europas verstärkt. Die Auswirkungen der mit dieser Entscheidung verbundenen ökonomischen Unsicherheit auf den Euroraum und die deutsche Wirtschaft lassen sich mit ökonometrischen Methoden abschätzen. Einer...
Persistent link: https://www.econbiz.de/10011522316
The main characteristic of the implementation of the European Monetary Union (EMU) is the transition from various national currencies to the Euro, the common European currency. A final fixing of the individual bilateral exchange rates of all European countries involved in the Monetary Union...
Persistent link: https://www.econbiz.de/10011442518
This paper assesses the economic implications of the United Kingdom leaving the European Union. The basic data on trade in goods and services and investment between the two parties suggest that cost of ‘Brexit’ could be substantial. Trade between the UK and the EU27 is large and of a similar...
Persistent link: https://www.econbiz.de/10011662701