This study analyses the main transmission mechanisms relevant for the absorption and propagation of asymmetries within the
EU and EMU, putting a specific focus on Europe's real economy. In particular, the report aims to assess how the economic shock
that triggered the financial and economic crisis has been transmitted and at least partially absorbed in the EU's real economy
and the EMU member countries, from both a macro- and a microeconomic perspective. From a policy point of view, the results
of the current study imply that, on account of the substantial heterogeneity among EU countries found in all parts of the
study, "one size fit all" policies are likely to be very ineffective at increasing the resilience of the EU's single market.
Research group:Industrial Economics, Innovation and International Competition – Macroeconomics and European Economic Policy – Structural Change and Regional Development
Study by: Austrian Institute of Economic Research – National Institute of Economic and Social Research, London
This systematic macro- and microeconomic analysis of the main transmission channels for economic shocks within the internal
EU market will consider each of the cross-border flows mentioned in detail and differentiate between the time periods before,
during (and after) the economic crisis as well as between EMU and non EMU countries (differentiating between times of Euro
adoption) and – as far as possible – non-EMU countries following different exchange rate regimes.