Making sense of Brexit losses: An in-depth review of macroeconomic studies

Autor:	Hidemichi Yonezawa, María C. Latorre, Sherman Robinson, Zoryana Olekseyuk
Rok vydání:	2020
Předmět:	Economics and Econometrics 050208 finance Brexit Yield (finance) 0502 economics and business 05 social sciences Economic methodology Economics International economics 050207 economics
Zdroj:	Economic Modelling. 89:72-87
ISSN:	0264-9993
Popis:	Almost all economic assessments of Brexit conclude that there would be significant losses for both the UK and the EU. This paper examines the driving forces behind these results. We consider the strong economic relationships between the UK and EU both at the sectoral and macroeconomic levels that are at risk from Brexit. We review fifteen studies that explore various Brexit scenarios (hard and soft) and explain why their different methodologies and assumptions yield different degrees of economic damage. Our review concludes that GDP losses for the UK from a hard Brexit range from 1.6% to 7.8%, while a soft Brexit would moderate the losses by roughly half. We also find that potential UK trade agreements with third countries could partially compensate for significant Brexit losses.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::c463170a4e0e11427394f8032fe0ac2c https://doi.org/10.1016/j.econmod.2019.10.009 Zobrazit plný text záznamu Full Text from ScienceDirect