This paper formulates a dynamic Random Coefficient Model (RCM) to consider a set of popular determinants of public deficits in the EU-15 over the period 1971-2006, both at a country-specific level and from a population-wide perspective. Although the extent of government deficits and debt has...

The extent of government deficits and debt has been one of the most debated issues in recent years. However, very little has been contributed about their dynamics . Yet, the issue of entering into and exiting from excessive deficits will be critical in the European monetary union since the...

This paper analyzes tax base erosion in its different forms: tax evasion, tax under estimation, tax avoidance, and tax expenditures. It takes up the problems of defining tax base erosion and of the methodology for a measure of its magnitude. A survey of the magnitude of underground economy, tax...

Using an extended data set of EU countries ranging from 1971-2006 and relevant econometric methods, we investigate the economic, political, and institutional determinants of government deficits in the EU. The results show a strong opportunistic behaviour of policymakers which leads to political...

This paper examines the peace dividend effect of Turkish convergence to EU membership. By employing a multi-region dynamic CGE model, we examine the prospect for conflict resolution if Turkey becomes an EU member. The model allows us to analyse several scenarios that imply varying amounts of...

The accession of twelve Central and Eastern European countries (CEEC) to the European Union (in 2004 and 2007) has given rise to new challenges in evaluating the effects of integration, for both the old and the new member states. These issues can only be addressed in a consistent, economy-wide...

This paper presents the dynamic multi-sector general equilibrium model for the Russian Federation (RusMod) and carbon emission projections for Russia up to 2020.Projection results emphasise the importance of accomplishing strong energy efficiency gains, and their effect on the economy and on...