02088cas a2200241 a 4500 AALejournalIMF018864 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484384596 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. United Kingdom : Selected Issues. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (68 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 estimates the long-run economic impact of Brexit on the United Kingdom under two distinct assumptions for the post-Brexit relationship between the United Kingdom and the European Union. These illustrative scenarios entail different degrees of higher trade costs, a more restricted European Union migration regime and reduced foreign inward investment. A standard multicountry and multisector computable general equilibrium model is used to quantify the impact of higher trade barriers. There is substantial sectoral heterogeneity in the impact, and regions with higher concentrations of the more affected sectors are likely to confront greater losses. The empirical analysis suggests the speed of sectoral labor relocation across sectors has been relatively low in the UK. Irrespective of these empirical estimates, policies, such as retraining, would be critical to facilitate faster adjustment of the economy to the post-Brexit equilibrium thereby helping to minimize the associated costs to individuals and in aggregate. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2018/317 Full text available on IMF http://elibrary.imf.org/view/journals/002/2018/317/002.2018.issue-317-en.xml IMF e-Library