{
  "title": "Euro Area Policies: Selected Issues",
  "publication": "IMF Staff Country Reports, July 19, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/07/18/euro-area-policies-selected-issues-46097",
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  "summary": "This Selected Issues paper focuses on long-term impact of Brexit on the European Union (EU). This paper examines consequences of Brexit on the EU27 under various post-Brexit scenarios by using two different complementary approaches.",
  "sections": [
    {
      "heading": "Scope and methodology",
      "content": "- Focus: long-term impact of Brexit on the European Union (EU).\n- Coverage: consequences of Brexit on the EU27 under various post-Brexit scenarios.\n- Approaches: uses two different complementary approaches."
    },
    {
      "heading": "Key findings",
      "content": "- Brexit would have negative effects on the EU27, given the depth and the complexity of the EU-U.K. integration.\n- The estimated long-term output and employment losses (in percent) for the EU27 in the study are on average lower than the corresponding losses for the UK estimated in the literature.\n- Estimated maximum long-run losses under a ‘hard’ Brexit scenario:\n  - Level of output: fall at most by up to 1.5 percent.\n  - Level of employment: fall at most by up to 0.7 percent.\n- A “soft” Brexit outcome would lead to much lower losses."
    },
    {
      "heading": "Themes and topics analyzed",
      "content": "- Trade integration: EU-U.K. trade integration and its disruption.\n- Labor market: employment, employment growth, labor force, unemployment, unemployment rate, youth employment, U.K. migrant job prospects.\n- Broader context: implications for the euro area and global linkages.\n\nSource: \"Euro Area Policies: Selected Issues\", IMF Staff Country Reports 2018, 224 (2018).\n\n---\n\n Content in this bundle\n\n- cr18224\n  - cr18224 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr18224 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 19, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484368961.002",
    "Focus: long-term impact of Brexit on the European Union (EU).",
    "Coverage: consequences of Brexit on the EU27 under various post-Brexit scenarios.",
    "Approaches: uses two different complementary approaches.",
    "Brexit would have negative effects on the EU27, given the depth and the complexity of the EU-U.K. integration.",
    "The estimated long-term output and employment losses (in percent) for the EU27 in the study are on average lower than the corresponding losses for the UK estimated in the literature.",
    "Estimated maximum long-run losses under a ‘hard’ Brexit scenario:",
    "A “soft” Brexit outcome would lead to much lower losses.",
    "Trade integration: EU-U.K. trade integration and its disruption.",
    "Broader context: implications for the euro area and global linkages.",
    "**cr18224**"
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