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The JCMS Blog

Insight from the Journal of Common Market Studies

Category Archives: Economics & Trade

The stalemate of transatlantic liberalization: It started before Trump

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In the immediate aftermath of the election of Joe Biden the European Commission proposed ‘A new transatlantic agenda’. This ambitious plan emphasizes that together the EU and the US ‘have the reach to set regulations and standards that are replicated across the world’. This very much sounds like a revival of the major priority of […]

How do imposed sanctions impact firms?

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By Michal Onderco & Reinout A van der Veer Last week, the European Union agreed to impose new sanctions on Russia in response to the attempt to poison the opposition activist Alexei Navalny and his jailing upon return to Russia. Immediately afterwards, Russia threatened to respond in kind. This development is not new. In recent […]

Is the European Union a complex adaptive actor?

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Since its creation, the European Union has aimed to become a key international actor, promoting regional integration, democracy, the rule of law and human rights through its numerous international development programmes around the world. Yet, we should not forget a complementary dynamic that is as important as the EU attempts to diffuse its own institutional practices and values. This concerns how the EU learns from other actors, and adapts to practices proposed by other countries and international organizations.

Revisiting the Trade Effects of the EU-Turkey Customs Union

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In 2015, the Turkish government and the European Commission officially started a process for the modernization and expansion of the Customs Union between the European Union (EU) and Turkey (hereafter called “CU-EUT”). The CU-EUT entered into force 25 years ago on December 31st, 1995. While it provides a far-reaching trade integration for industrial goods, lately […]

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The Cultural Sources of British Hard Bargaining

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The British approach to the Brexit talks Another day, another round of Brexit negotiations. Unsurprisingly, perhaps, UK prime minister Boris Johnson has committed to driving a hard bargain of the EU, setting out unrealistic expectations, signalling the UK is prepared for ‘no deal’, launching parallel negotiations with the United States, and adopting a bullish rhetoric […]

Taking central bank politicization seriously

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By Pier Domenico Tortola The European Central Bank “needs a rocket scientist, not a rock star”, quipped the website Politico shortly after the nomination of Christine Lagarde to succeed Mario Draghi at the helm of the ECB, starting November 2019. The risk, the commentary continued, is that the presidency of Lagarde, a central banking outsider […]

Can the European Parliament make the European Central Bank accountable?

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Since the euro crisis, the European Central Bank (ECB) has expanded its powers from monetary policy to banking supervision in the Eurozone. In the framework of the Single Supervisory Mechanism (SSM), established in 2013, the ECB became responsible for the direct supervision of the largest banks of Eurozone countries.

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In God we trust? Identity, institutions and international solidarity in Europe

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Why do some European citizens support sharing economic resources across national borders within the EU while others do not? While the EU and its supporters stand for ‘solidarity across borders’, opponents to increased economic integration argue that the money is better spent at home, exemplified by the Brexit leave campaign’s slogan “we can spend our […]

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Economic Recovery Strengthens Public Support for the Euro

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The long-term sustainability of the euro depends heavily on its ability to attract widespread public support. This is one of the main conclusions I and my co-authors reach in our most recent academic work in this field, which draws its evidence from a uniquely large Eurobarometer database and applies the latest econometric techniques. This blog highlights our most salient findings and underscores their relevance in the current policy context.

Why International Organizations Disagree

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Scholars often look at international organizations, such as the European Union (EU), in splendid isolation. Over the last decade, however, researchers have paid more attention to how international organizations interact and what this means for international cooperation.

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