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Single Market Transmission Mechanisms Before, During and After the 2008-09 Crisis. A Quantitative Assessment

Harald Oberhofer (), Christian Glocker, Werner Hölzl (), Peter Huber (), Serguei Kaniovski, Klaus Nowotny (), Michael Pfaffermayr (), Monique Ebell and Nikolaos Kontogiannis
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Christian Glocker: WIFO
Serguei Kaniovski: WIFO
Nikolaos Kontogiannis: National Institute of Economic and Social Research, London

in WIFO Studies from WIFO

Abstract: 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.

Date: 2016 Written 2016-11-21
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