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eventual accession of Turkey to the European Union. The results of the simulations show that Turkey's accession to the European …% of the initial TFP gap between Turkey and the European Union. That figure becomes 45% when capital mobility is introduced …. -- European Union ; Turkey ; Enlargement ; Dynamic General Equilibrium ; Open Economy Macroeconomics …
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As the current financial crisis has shown, macroeconomic imbalances such as persistent current account and trade deficits, can seriously undermine a country's resilience to economic shocks. Maintaining and enhancing external competitiveness has thus become of increasing concern, particularly to...
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The paper examines the effects of ageing and makes a case for partial pre-funding of pensions. The argument is based on inter-generational fairness in a situation where pension expenditure as compared to wages increases due to low fertility and increasing longevity. We illustrate the approach by...
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