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Brexit: situation and economic consequences

Alejandro Buesa, Coral García, Iván Kataryniuk (), César Martín-Machuca, Susana Moreno and Moritz Roth

Economic Bulletin, 2020, issue 4/2020, 12 pages

Abstract: The effective departure of the United Kingdom (UK) from the European Union (EU) opens up a new period of relations between the two areas. The current health crisis limits economic policies’ room for manoeuvre to accommodate the costs of transitioning to a new economic relationship, whatever final form it may take. This article describes the most recent developments in the negotiation process and outlines three possible scenarios for the future EU-UK trading relationship, providing simulations of the potential macroeconomic impact in each case. Moreover, the recent trend in trading and financial relations between the United Kingdom and Spain is set out in a box.

Keywords: Brexit; NiGEM; scenario analysis; tariffs; non-tariff barriers; migration; FDI. (search for similar items in EconPapers)
JEL-codes: F15 F47 F53 (search for similar items in EconPapers)
Date: 2020
Note: Analytical Articles
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