regime. These effects are statistically significant and imply that two countries that share the same currency trade three …A gravity model is used to assess the separate effects of exchange rate volatility and currency unions on international … trade. The panel data set used includes bilateral observations for five years spanning 1970 through 1990 for 186 countries …

countries in the sample. The orderings seem sensible, robust and intuitive. For instance, the country rankings derived from …This paper develops a procedure to rank-order countries and commodities using disaggregated US imports data. It finds … strong evidence that both countries and commodities can be ranked, consistent with the ‘product cycle’ hypothesis. Countries …

We analyse banking crises using a panel of macroeconomic and financial data for more than 100 developing countries from … countries, even after taking into account a host of internal macroeconomic factors. …

This Paper is an empirical study of fiscal policy in countries with extreme monetary regimes. We study members of … multilateral currency unions, dollarized countries that officially use the money of another country, and countries using currency … boards. We find that belonging to an international common currency area is not associated with fiscal discipline; if anything …

1997) we show that currency crises affect clusters of countries tied together by international trade. By way of contrast …Currency crises tend to be regional; they affect countries in geographic proximity. This suggests that patterns of … international trade are important in understanding how currency crises spread, above and beyond any macroeconomic phenomena. We …

business cycles are correlated with those of the other countries. But international trade patterns and international business …A country’s suitability for entry into a currency union depends on a number of economic conditions. These include …, inter alia, the intensity or trade with other potential members of the currency union, and the extent to which domestic …