The impact of trade integration on business cycle co-movements in Europe

Article Abstract:

An extended research on the previous study on East Asia to the case of 14 European countries from the years 1977 to 1999 is presented. In contrast with the previous studies, the findings have important implications for the adoption of a currency union with an expectation that costs of joining a currency union would diminish significantly only when intraindustry trade becomes dominant.

International economic relations, Business cycles, Government regulation of business, Trade regulation, Trade policy

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Wage and employment effects in the EU of international trade with emerging economies

Article Abstract:

The theoretical framework and the conceptual issues concerning international trade and wages, as well as international trade and employment in a sticky-wage model are presented. It is emphasized that the trade liberalization with the newly industrialized countries is the outcome of the recent increase of wage or employment inequality between high- and low-skilled workers in the EU.

International aspects, International trade, Labor market, Labour market

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Real currency appreciation in accession countries: Balassa-Samuelson and investment demand

Article Abstract:

The causes of the considerable real currency appreciation, which could be observed in transition countries in the process of European Union (EU) accession, are analyzed. It is suggested that the Balassa-Samuelson effect alone cannot account for the observed productivity effects, and that part of these productivity effects are due to the proposed investment demand channel.

Foreign exchange, Foreign exchange rates

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