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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. | Macro Economic Policy Resource. |
| 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. | Macro Economic Policy Resource. |
| Stimulating Demand "
In 1999, the Japanese Government handed out "shopping coupons" worth 20,000 yen (about 200 US dollars) to families for every child under the age of 15 and to roughly half of Japan's elderly population. In total, 25 percent of Japan's population received the coupons. The coupons expired after six months and had to be spent within the recipient's local community. "Did the Shopping Coupon Program Stimulate Consumption? Evidence from Japanese Micro Data" investigates whether these coupons were successful in increasing consumption. Published by the Economic and Social Research Institute. | By Economic and Social Research Institute , Japan | Macro Economic Policy Resource. |
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