This paper considers the determinants of the macroeconomic costs of joining EMU for the new EU Member Sates, and compares them with those of the EMU members. Specifically, we investigate the business-cycle correlation between the candidate's economy and that of the euro area as a whole, and the...

The Whitehall Briefing (leaked in January but only officially released this month) is not the last word on the potential long-term economic impact of Brexit, despite claims from others that it ‘proves’ GDP will be lower in ‘all’ scenarios. As the report itself says, it is only ‘draft...

A high degree of cyclical synchronization between the new EU member states (NMS) from Central and Eastern Europe and the euro area is considered to be a prerequisite for successful enlargement of the European Monetary Union. In this paper, we establish stylized facts on economic linkages between...

A high degree of cyclical synchronization between the new EU member states (NMS) from central and eastern Europe and the euro area is generally seen as a prerequisite for successful EMU enlargement. This paper investigates comovements between NMS and the euro area. We first establish stylized...

In this paper we analyze the dynamics of public investment and public finance in new members of the European Union, and also how these sectors were affected by changes in economic freedom and corruption. When we assess the role of regulation and corruption on public investment, we find that...