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- W2890624699 abstract "Abstract Economic nationalism is on the rise, but at what cost? We study this question using the unexpected outcome of the Brexit referendum vote as a natural macroeconomic experiment. Employing synthetic control methods, we first show that the Brexit vote has caused a UK output loss of 1.7% to 2.5% by year-end 2018. An expectations-augmented VAR suggests that these costs are, to a large extent, driven by a downward revision of growth expectations in response to the vote. Linking quasi-experimental identification to structural time-series estimation allows us not only to quantify the aggregate costs but also to understand the channels through which expected economic disintegration impacts the macroeconomy." @default.
- W2890624699 created "2018-09-27" @default.
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- W2890624699 date "2019-05-30" @default.
- W2890624699 modified "2023-10-05" @default.
- W2890624699 title "The Costs of Economic Nationalism: Evidence from the Brexit Experiment*" @default.
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- W2890624699 doi "https://doi.org/10.1093/ej/uez020" @default.
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