We use industry valuation differentials across European countries to study the impact of membership in the European Union as well as the Eurozone on economic and financial integration. In integrated markets, discount rates and expected growth opportunities should be similar within one industry,...

Am 29. März 2017 notifizierte die britische Regierung ihren Austrittswillen nach Art. 50 des EU-Vertrages bei der EU. Der Brexit ist somit offiziell eingeleitet. Am 29. April haben die Staats- und Regierungschefs beim Europäischen Rat nach Art. 50 EUV die Leitlinien für die Verhandlungen...

Vor der EU-Osterweiterung von 2004 gab es große Diskussionen um die Wanderungsströme aus den neuen Mitgliedsstaaten. Zahlreiche wissenschaftliche Studien prognostizierten ein Migrationspotenzial nach Deutschland in der Größenordnung von eins bis drei Millionen Personen. Vergleicht man diese...

Twenty years have passed since the largest enlargement of the European Union in history. During the eastern enlargement, 10 new member states entered the union, seven of which belonged to the former Eastern bloc. The new members have since experienced astonishing growth rates, closing the large...

Twenty years after the EU accession of the Visegrád countries-- Poland, the Czech Republic, Slovakia and Hungary - we analyse their development of unit labour costs and of the labour share in manufacturing for the years 1995 to 2023. Firstly, the labour shares in the Visegrád countries have...

The twenty years since the Eastern Enlargement of the EU in 2004 have generally borne out the hopes that at the time were placed in what was seen as the reunification of the continent. Economic performance in the new member states have steadily converged with those in the EU15. The substantial...