Thierry Mayer, Vincent Vicard, Soledad Zignago, 02 August 2018

Sixty years after the Treaty of Rome came into force, doubts about the benefits of trade openness are increasing among the general public and policymakers, with Brexit and calls from many governments for a reversal of key integration agreements painting a bleak picture of what may come next. This column revisits the gains EU members have reaped from trade integration since 1957 and what would be the costs of going backwards. The results suggest that the Single Market has increased trade between EU members by 109% on average for goods, with associated welfare gains reaching 4.4% for the average European country.

László Bruszt, Nauro Campos, 17 November 2017

The many benefits and costs of economic integration are notoriously difficult to pinpoint. This column introduces new institutional measures for 17 EU candidate countries since 1997 to explore whether deep integration helps the build-up of state capacity. Estimates highlight the relationship between judiciary capacity and bureaucratic independence as the key engine behind state capacity-building engendered by the prospect of EU membership.

Gylfi Zoega, 03 November 2017

The vote for Brexit and the election of Trump are just two examples of the recent rise in populism. This column discusses how support for populist parties in Europe is closely correlated with a lack of trust in national parliaments and in the European Parliament. The EU must convince voters that it is acting in their interests and taking their concerns into account. At the same time, a distinction has to be made between decisions that should be taken at the EU level and those that are better left in the hands of the member states.

Samuel Bentolila, Juan Dolado, 23 May 2017

Almost 20 years after CEPR published “Social Europe: One for All?”, Social Europe has moved again to the top of the policy agenda. In this column, two of the authors revisit their report and argue that the challenges posed by the Global Crisis, the deepening of the inter­nal market, globalisation, technological progress, popu­lation ageing, and the refugee crisis now require a more effective strat­egy to strengthen the EU social acquis.

Lars Feld, Christoph Schmidt, Isabel Schnabel, Volker Wieland, 22 August 2016

It has been suggested that the vote for Brexit marks the first step of disintegration in Europe. This column argues that if the European integration process is pursued wisely, it still carries the promise of enduring peace and growing prosperity. But EU policymakers must devise a process of integration that strengthens Europe’s competitiveness to such an extent that the advantages of EU membership are clear to member states’ citizens.

Juergen Matthes, Berthold Busch, 27 April 2016

Studies attempting the quantify the economic effects for the UK of Brexit have come up with conflicting results – ranging from significant advantages to marked losses. Using a meta-analysis, this column shows this can be explained by different methods and assumptions, as well as varying coverage of effects. The forward-looking, model-based studies are unable to capture many positive effects of economic integration on welfare and growth. In comparison, backward-looking studies tend to find significantly larger trade effects of economic integration agreements. The meta-analysis suggests that in case of Brexit, GDP losses for the UK in the range of 10% or more cannot be ruled out in the long run.

Enrico Spolaore, 25 July 2015

The idea that Europe’s challenges could be addressed with further integration dates back to the beginning of the European project. This column argues that partial integration might not necessarily lead to more integration. In particular, such a strategy might not be successful in areas involving high heterogeneity costs that do not necessarily reduce with more integration. If further integration is to take place, European institutions may need to accept much more flexibility and have provisions not only for entry, but also for exit.

Ettore Dorrucci, Demosthenes Ioannou, Francesco Mongelli, Alessio Terzi, 15 April 2015

Despite a significant progress over the past decades, European integration still needs improvement in some areas. This column presents a long-term narrative of European integration by using a recently published European index of regional institutional integration. The index maps developments in European integration from 1958 to early 2015 on the basis of a new monthly dataset. The evidence shows that successful integration could be achieved with reforms that are inclusive, widely explained, understood, and accepted.

Nauro Campos, Fabrizio Coricelli, 03 February 2015

Britain eschewed EU membership in the late 1950s but changed its mind in the early 1960s, only to be rebuffed by Charles de Gaulle. Membership came only in the early 1970s. This column argues that, among others, Britain joined the EU as a way to avoid its economic decline. The UK’s per capita GDP relative to the EU founding members’ declined steadily from 1945 to 1972. However, it was relatively stable between 1973 and 2010. This suggests substantial benefits from EU membership especially considering that, by sponsoring an overpowered integration model, Britain joined too late, at a bad moment in time, and at an avoidably larger cost.

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These issues will be addressed:
1) History: Maastricht Treaty and Beyond: Broadening and Deepening
2) Trip down memory lane: Eurozone 1999 -- 2009
3) Does OCA necessitate a fiscal union? Has the OCA-endogeneity hypothesis to be reconsidered?
4) After 2009: Economic theory encounters political and social realities
5) Challenges and Strategic Choices Facing the EU: Is The Fiscal Union Feasible?
6) "Fiscal Union": Concepts and the future
7) Savings and Current accounts
8) Eurozone's Demographics and Fiscal Stance: Implications the Future?

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The Economics Interest Section of the European Union Studies Association (EUSA) and the Globalization & Monetary Policy Institute of the Federal Reserve Bank of Dallas are pleased to announce an economics workshop on European Integration. The meeting will be held at the Federal Reserve Bank of Dallas on 18-19th March, 2010 linked to a one-day public conference that the Institute is organising on 17 March on 10 years of the euro.
Papers on any aspect of European economic integration are welcome, as well as papers that place European integration in the context of the ongoing globalization of trade and capital flows. Abstracts are to be sent to both Patrick Crowley at [email protected] and David Mayes at [email protected] by January 10th, 2010. Please indicate whether you would also be willing to serve as a chair and/or discussant.

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Examples of specific research areas are: a pan-European database; European growth from the mid-nineteenth century; European growth in the very long run; the history of European integration; Europe's changing position in the world.

Events

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