On 1 January 2023, Croatia became the newest member of the Schengen Agreement of the European Union (EU) and also joined the Eurozone. This will not only mean a new currency and the elimination of border controls - allowing thus free movement within the Schengen area. It will also mean...

In reaction to disruptions of the Single Market, the European Commission put forward an emergency instrument. It proposes far-reaching measures in order to maintain the proper functioning of the Single Market and ensure the supply and distribution of goods and services. The dirigiste...

Wie können ökonomische Erkenntnisse bei der Auslegung und Konkretisierung des Missbrauchsverbots nach Art. 102 AEUV besser genutzt werden? Diese Forschungsfrage beantwortet der Autor und kommt zu dem Ergebnis, dass der more economic approach in der Missbrauchsaufsicht gescheitert ist. Zum...

Der Binnenmarkt ist einer der wichtigsten Errungenschaften der Europäischen Union und er trägt nennenswert zum Wohlstand bei. Tatsächlich findet der überwiegende Teil des Handels der Mitgliedstaaten mit anderen Mitgliedstaaten statt. Zu Beginn der Corona-Pandemie 2020 wurden jedoch...

The purpose of this paper is to assess the implications of the Economic and Monetary Union (EMU) accession of eight Central and Eastern European Countries (CEECs) on their share in EMU-12 imports. Overcoming biases related to endogeneity, omitted variables and sample selection, our results...

The issue of market efficiency attracted the attention of academics since the existence of financial markets. Over time, two schools of thoughts were established: the efficient markets school and the behavioral finance school. Proponents of the former believed in the Efficient Markets Hypothesis...

The aim of this paper is to improve our understanding of the key determinants of intra- and extra-euro area imports. Using a simultaneous equation estimation framework, and pooling the data across nine euro area countries as an approximation of the euro area, we estimate intra- and extra-euro...

Wie können ökonomische Erkenntnisse bei der Auslegung und Konkretisierung des Missbrauchsverbots nach Art. 102 AEUV besser genutzt werden? Diese Forschungsfrage beantwortet der Autor und kommt zu dem Ergebnis, dass der more economic approach in der Missbrauchsaufsicht gescheitert ist. Zum...

In this paper we quantify the Cost of Non-Europe, i.e. the trade-related welfare losses that would occur under different scenarios of undoing the European Union. Thirty years after the terminology of Non-Europe was used to give estimates of the gains from further integration, we use modern...

The issue of market efficiency attracted the attention of academicians since the existence of financial markets. Over time, two schools of thoughts were established: the efficient markets school and the behavioral finance school. Proponents of the former believed in the Efficient Markets...

"This edited volume brings together leading authors and actors in EU internal market law and policy, revisiting the classic themes in a contemporary context and considering (re-)directions for the future. The EU would not be where and what it is today without its internal market. It is the...

How do countries enhance their exports of goods in a largely tariff-free environment? Our investigation of export performance of new member states in the European Union single market, which provides a natural control for barrier-free environment, points to the importance of structural reforms,...

How do countries enhance their exports of goods in a largely tariff-free environment? Our investigation of export performance of new member states in the European Union single market, which provides a natural control for barrier-free environment, points to the importance of structural reforms,...

Die EU27 hat zwischen 1999 und 2012 ihre Handelsverflechtungen mit den Ländern außerhalb der EU (Drittländer) intensiviert, gleichwohl entfällt mit einem Anteil von etwa 60 % immer noch der weitaus größte Teil des Außenhandels der EU-Mitgliedstaaten auf den Handel untereinander...

Between 1999 and 2012 the EU intensified its trade relations with countries outside the European Union (third countries). However, the major part (about 60 %) of the EU member states' external trade consists of trade with each other (intra-trade). In past years, the EU has benefited from the...

This paper investigates the sources and size of trade barriers at the industry level. We derive a micro-founded measure of industry-specific bilateral trade integration that has an in-built control for time-varying multilateral resistance. This trade integration measure is consistent with a...

This paper empirically assesses whether the deployment and use of Information and Communication Technology (ICT) infrastructure at the national level affects trade flows within the European Union (EU) and between the EU and its main trading partners. The analysis tests the hypothesis that...

This pocketbook provides an overview of the characteristics of the European Union's trade in goods. Data are provided for the European Union as a whole (EU-27), the euro area (EA-16) and the single Member States, with a breakdown by main partners and by major product groups, according to the...

The 2003 reforms of the Common Agricultural policy of the European Union introduced decoupled income transfers as the most prominent policy instrument. However, member states were given substantial discretion over the degree and timing of the reform implementation. As a result, different...

Over the last decade, European Union members have experienced a dramatic increase in imports. This increase was accompanied by a strong growth in the number of imported goods and trading partners, indicating positive welfare gains for consumers via an extended set of consumption possibilities,...

This study discusses European Commission's recent proposal to combat VAT fraud by taxing intra-Community supplies at a common rate of 15%, accompanied by the internal correction of input-tax gap between an importer and his own national tax authority, which is caused by the national VAT rate...

This paper investigates the sources and size of trade barriers at the industry level. We derive a micro-founded measure of industry-specific bilateral trade integration that has an in-built control for time-varying multilateral resistance. This trade integration measure is consistent with a...

This study discusses European Commission's recent proposal to combat VAT fraud by taxing intra-Community supplies at a common rate of 15%, accompanied by the internal correction of input-tax gap between an importer and his own national tax authority, which is caused by the national VAT rate...

Trade theory and economic geography suggest that the removal of trade barriers is likely to bring about more economic specialisation and potentially more diverse development paths between countries and regions. Thus, the deepening and extending European integration should be accompanied by an...

The paper investigates the development of intra-industry trade (IIT) of the NMS with major partners between 2000-2007. IIT is separated into horizontal and vertical components on the basis of differences in unit values. We have found that although inter-industry trade still accounts for almost...

This pocketbook provides an overview of the characteristics of the European Union's trade in goods. Data are provided for the European Union as a whole (EU-27), the euro area (EA-15) and the single Member States, with a breakdown by main partners and by major product groups, according to the...

Trade theory and economic geography suggest that the removal of trade barriers is likely to bring about more economic specialisation and potentially more diverse development paths between countries and regions. Thus, the deepening and extending European integration should be accompanied by an...

The purpose of this paper is to assess the implications of the Economic and Monetary Union (EMU) accession of eight Central and Eastern European Countries (CEECs) on their share in EMU-12 imports. Overcoming biases related to endogeneity, omitted variables and sample selection, our results...

The objective of this report is to shed further light on the extent of high-frequency trading (HFT) in EU equity markets. We use unique data collected by ESMA, covering a sample of 100 stocks from nine EU countries for May 2013. Our study complements the HFT literature by looking at equity...

The purpose of this paper is to assess the implications of the Economic and Monetary Union (EMU) accession of eight Central and Eastern European Countries (CEECs) on their share in EMU-12 imports. Overcoming biases related to endogeneity, omitted variables and sample selection, our results...