The EU Single Market and the Maastricht Treaty are now aged 25. In this short history many events marked the way: the creation of EMU in 1999, the introduction of the euro in 2002, and the great EU enlargement starting in 2004. And lastly - for the first time - with the Brexit a reverse of the...

A new macroeconomic evaluation of EU enlargement is undertaken with a world macroeconomic model taking into account all possible integration effects: trade effects, Single Market effects, factor movements (FDI, migration) and the costs of enlargement. Due to the differences in size of the...

A new macroeconomic evaluation of EU enlargement is undertaken with a world macroeconomic model taking into account all possible integration effects: trade effects, Single Market effects, factor movements (FDI, migration) and the costs of enlargement. Due to the differences in size of the...

On 23rd February 2017, SUERF and EY organized a conference on "Brexit and the Implications for Financial Services" at EY's offices, Churchill Place, Canary Wharf, London. While the outcome of the Brexit negotiations remains highly uncertain, the conference discussed the burning questions for...

On 23rd February 2017, SUERF and EY organized a conference on "Brexit and the Implications for Financial Services" at EY's offices, Churchill Place, Canary Wharf, London. While the outcome of the Brexit negotiations remains highly uncertain, the conference discussed the burning questions for...

The paper discusses the role of regional public goods vs. global goods in influencing postcommunist transition in Central and Eastern Europe and former USSR with special attention given to three particular factors: (i) external anchoring of national reform process; (ii) international trade...

The paper discusses the role of regional public goods vs. global goods in influencing postcommunist transition in Central and Eastern Europe and former USSR with special attention given to three particular factors: (i) external anchoring of national reform process; (ii) international trade...

This paper compares the euro area and the US in order to draw lessons for improving the Economic and Monetary Union. Although it is not perfect, the US comes closer to fulfilling the criteria of the Optimum Currency Area theory, and it did not experience the debt crisis that hit the euro area,...

The Whitehall Briefing (leaked in January but only officially released this month) is not the last word on the potential long-term economic impact of Brexit, despite claims from others that it ‘proves’ GDP will be lower in ‘all’ scenarios. As the report itself says, it is only ‘draft...

This paper considers a simple stochastic model of international trade with three countries. Two of the tree countries are in an economic union. Comparisons are made between equilibrium welfare for these two countries under fixed and flexible exchange rate regimes. Within the model it is shown...