Fiscal Policy Challenges Facing the New EU Member States " sets out views on the fiscal sustainability, public debt, and public investment positions of the new member states. By Armin RIESS to the Cicero Foundation
By Cicero Foundation ,Netherlands, France, EU.
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Economic Growth in the EU " María Garcia-Vega and José Herce investigate whether economic integration promotes interdependent growth among countries. They conclude that this has been indeed the case for advanced OECD countries and that, for those countries belonging to the EU, through successive enlargements, the effect has been even stronger. More precisely, if every (trade) partner of a given country experiences an extra growth of 1 percentage point, this economy will profit from an extra 0.5 point, and if this country belongs to the EU it will have an additional increase of its rate of growth of 0.2 points. Both figures can be interpreted as growth externalities with the latter suggesting that an integration process like the one followed by the EU has an (positive) effect on growth. "Interdependent Growth in the EU: The Role of Trade" is published by ENEPRI.
By ENEPRI, Europe.
European Labour Markets & the Euro " Michael Burda assesses the effects of European Monetary Union on the Eurozone economy using a real business cycle paradigm and asks whether increased labour market flexibility is really necessary. "European Labour Markets and the Euro: How much flexibility do we really need?" is published by ENEPRI
By ENEPRI , Europe.
Economic Growth to 2010 " Medium term prospects for the European economy are less bright than for the US due to weaker growth in the working age population. This is the message from "The European economy in the medium term" published by the CPB Netherlands Bureau for Economic Policy Analysis.
By CPB Netherlands Bureau for Economic Policy Analysis , Netherlands.