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BPEA Article

Industrial Organization and the Gains from Europe 1992

Abstract

EUROPE 1992 promises substantial economic gains to the 12 nations that
are to make up the single integrated market. From the larger market are
to flow the microeconomic benefits of economies of scale and increased
competition. It is these gains that are the promise of Europe 1992; the
gains from macroeconomic policy come largely from capitalizing on the
supply-side shock of lower prices and costs.

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