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By Stanley W. Black

Of their transition from the legacy of Communism, valuable and jap eu international locations (CEECs) are looking for to lessen the source of revenue hole that is still the main barrier to complete eu integration. The essays during this quantity derive from a convention held on the American Institute for modern German reports in Washington, DC, on may perhaps 15-16, 1995, and current basic equilibrium calculations of the area broad results of alternate liberalization among CEECs and the ecu Union (EU) on genuine wages and welfare; research of exchange in "sensitive" sectors; and size of Germany's position within the transition.

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Extra info for Europe's Economy Looks East: Implications for Germany and the European Union

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The unwillingness of national governments to strengthen the Parliament leads Koop to suggest a two-tier decision-making rule in the Council, based first on simple majority of votes and second on proportion of population. Such fundamental constitutional questions can be resolved only if the mem- 16 Stanley W. Black bers agree on their objectives. To help bridge the gap between existing members, Koop suggests inviting the potential new members to participate in the IGC. Otherwise the outcome risks restriction to the "least common denominator" of integration.

Apart from a few exceptions, these objectives will be attained after seven years for Poland and after nine years for all other countries. Further concessions are applied on a reciprocal basis. A distinction is made between "general industrial goods" and "sensitive" sectors, such as agricultural products, steel, coal, textiles, clothing, and chemicals, where EU liberalization is limited during the transitional phase. Trade in processed agricultural products and in fishery products is governed by specific provisions.

Stern Fixed relative wages. While the economy-wide wage in each country is permitted to adjust so as to maintain full employment, the wages across sectors are held fixed relative to one another. ) Fixed labor supply. The total labor supply in each country is assumed to be held fixed in the analysis. 18 Role of variety. The Dixit-Stiglitz aggregation function in its usual form uses a single parameter, the elasticity of substitution, to determine both the degree of substitution among varieties of a good and the extent to which an increased number of varieties adds to welfare of consumers and reduces costs of intermediate inputs.

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