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The Centre for Economic Policy Research (CEPR) was founded in 1983 to enhance the quality of economic policy-making within Europe and beyond, by fostering high quality, policy-relevant economic research, and disseminating it widely to decision-makers in the public and private sectors. Drawing together the expertise of its Research Fellows and Affiliates, CEPR initiates, funds and coordinates research activities and communicates the results quickly and effectively to decision-makers around the world. The Centre is an independent, non-profit organization and takes no institutional policy positions.