This paper discusses the potential impacts of services trade liberalisation on developing
countries and reviews existing quantitative studies. Its purpose is to distill themes from …

Abstract The European Commission's 2017 White Paper on the Future of Europe sets out
several scenarios related to differentiated (dis) integration. But although our understanding …

We use the method of indirect inference to test a full open economy model of the UK that has
been in forecasting use for three decades. The test establishes, using a Wald statistic …

Today, university economics students and their teachers can refer to a number of
established texts on the economics of monetary union. Given their intended audience, these …

This study aims to assess whether the introduction of the euro promotes systematic growth
for the Eurozone. The empirical analysis is based on a natural experiment where the …

The issue of whether the UK should join the European single currency has been fiercely
debated for the past two decades. However little research has been devoted to forecasting …

Some years ago I did a fair amount of work on whether Britain should join the euro, in the
context of the debate on the 'five tests' set out by HM Treasury. Five years on it is an …

We analyse the current state of monetary integration in Europe, focusing on the United
Kingdom's position regarding the European Monetary Union (EMU). The interest rate …

This paper builds on the papers published by HM Treasury in 2003 alongside the UK
Government's assessment of the case for EMU entry. The paper considers the potential for …

In this article we introduce a new bootstrap method for testing macroeconomic models
according to their dynamic performance. The method maintains a separation between the …