A Single Market for Services in the European Union is not yet a reality. The European Commission launched proposals that would remove some negative trade impacts caused by national regulation differences. We apply a general equilibrium model (WorldScan) to assess what economic benefits the...

This paper offers an empirical evaluation of the economic effects of the European Structural and Cohesion aids received by Spain in the period 1989 through 2006 amounting to a total of almost [euro]100 billion at 1999 prices. To that end, we use the HERMIN-Spain model. Our results suggest that...

New member states will join the EMU in the coming years. Setting the central parity at which they will join has been and will be a challenging task, as there is a considerable amount of uncertainty, both from a theoretical and an empirical perspective, surrounding the determination of the...

In this paper we use Pindyck's model [Pindyck, R. S. (2002). Optimal timing problems in environmental economics. Journal of Economic Dynamics and Control, 26, 1677-1697] to show that the discount rate may play an important role in accounting for the income-pollution pattern observed in the real...

The paper emphasizes three interrelated questions about the decline in relative farm to non-farm prices in the United States since 1973: (1) Is it unusual, (2) What caused it, and (3) Is it likely to continue? We find that based on historical and international evidence this phenomenon may be...

This paper extends the dynamic macroeconomic framework developed by Agénor et al. [Agénor, P. -R., Bayraktar, N., & Aynaoui, K. E. (2006, July). Roads out of Poverty? Assessing the Links between Aid, Public Capital, Growth, and Poverty Reduction. World Bank, Revised.]. As in the original...