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The Brexit vote is expected to have a profound impact on the UK, the EU and the rest of the world both at the economic and the political level. Some of the main transmission channels are expected to include trade, investment, banking and finance, labor markets and public finances. Yet, the exact size of output losses that other economies may encounter will depend on their individual linkages with the UK, the form of future UK-EU trade arrangements and domestic authorities’ response to adverse spillover effects.