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Keywords:European Union 

Working Paper
Trade and the (dis)incentive to reform labor markets: the case of reform in the European Union.

In a closed economy general equilibrium model, Hopenhayn and Rogerson (1993) find large welfare gains to removing firing restrictions. We explore the extent to which international trade alters this result. When economies trade, labor market policies in one country spill over to other countries through a change in the terms of trade. This reduces the incentive to reform labor markets. In a policy game over firing taxes between countries, we find that countries optimally choose positive levels of firing taxes. A coordinated elimination of firing taxes yields considerable benefits. This insight ...
Working Papers , Paper 04-18

Journal Article
The new paradigm in Europe: is Goldilocks going global?

Southwest Economy , Issue Sep , Pages 1-6

Journal Article
European economic integration: a conflict of visions

Southwest Economy , Issue Jul , Pages 1, 12-15

Journal Article
European sovereign debt remains largely a European problem

The rapidly mounting debts of the governments of Greece and other European countries caught policymakers off guard earlier this year and caused a panic in the markets. But a review of who holds the debt of these countries shows that any contagion risk should be confined to Europe.
The Regional Economist , Issue Oct , Pages 4-5

Journal Article
The European debt crisis and U.S. economic growth

The recent strengthening of the correlations between U.S. GDP growth and that of Mexico, Canada, and Euro-19 validates further consideration of the performance of U.S. trade partners for growth.
Economic Synopses

Journal Article
NAFTA, trade diversion and Mexico's textiles and apparel boom and bust

Southwest Economy , Issue Sep , Pages 11-13

Journal Article
Potential output in a rapidly developing economy: the case of China and a comparison with the United States and the European Union

The authors use a growth accounting framework to examine growth of the rapidly developing Chinese economy. Their findings support the view that, although feasible in the intermediate term, China's recent pattern of extensive growth is not sustainable in the long run. The authors believe that China will be able to sustain a growth rate of 8 to 9 percent for an extended period if it moves from extensive to intensive growth. They next compare potential growth in China with historical developments in the United States and the European Union. They discuss the differences in production structure ...
Review , Volume 91 , Issue Jul

Working Paper
Seigniorage and the European Community: is European economic and monetary union in danger?

Working Papers , Paper 90-19

Journal Article
An E.U. withholding tax?

International Economic Trends , Issue Nov

Speech
What the euro crisis means for taxpayers and the U.S. economy

Testimony before the Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, Committee on Oversight and Government Reform, U.S. House of Representatives.
Speech , Paper 71

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