The costs and benefits of leaving the EU

Gianmarco Ottaviano, João Paulo Pessoa, Thomas Sampson and John van Reenen

No 472, CFS Working Paper Series from Center for Financial Studies (CFS)

Abstract: What would be the economic effects of the UK leaving the European Union on living standards of British people? We focus on the effects of trade on welfare net of lower fiscal transfers to the EU. We use a standard quantitative static general equilibrium trade model with multiple sectors, countries and intermediates, as in Costinot and Rodriguez-Clare (2013). Static losses range between 1.13% and 3.09% of GDP, depending on the assumptions used in our counterfactual scenarios. Including dynamic effects could more than double such losses.

Keywords: Trade; European Union; welfare (search for similar items in EconPapers)
JEL-codes: F13 F17 F60 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-eec, nep-ict and nep-int
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Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:cfswop:472

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