01970cas a2200241 a 4500 AALejournalIMF018665 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484368961 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Euro Area Policies : Selected Issues. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (38 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Our results, which are broadly in line with recent findings in the literature, are twofold. First, Brexit would have negative effects on the EU27 as well, given the depth and the complexity of the EU-U.K. integration. Similar to various empirical studies, it has been observed that 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. The level of output and employment are estimated to fall at most by up to 1.5 percent and 0.7 percent in the long run in the event of a 'hard' Brexit scenario, respectively. A 'soft' Brexit outcome would lead to much lower losses. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2018/224 Full text available on IMF http://elibrary.imf.org/view/journals/002/2018/224/002.2018.issue-224-en.xml IMF e-Library