currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by …

Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive …, with more than half of transactions in our sample invoiced in neither sterling nor the exporter’s currency. We then study … the relationship between invoicing currency choices and the response of import prices to exchange rate changes. We find …

We present a new approach to study empirically the effect of the introduction of the euro on currency invoicing. Our … approach uses a compositional multinomial logit model, in which currency choice depends on the characteristics of both the … currency and the country. We use unique quarterly panel data of Norwegian imports from OECD countries for the 1996-2006 period …

convergence to market equilibrium. It is expedient that some parties have differentiable objectives or make strictly feasible …

A major theme in accounts of the transitional recession and delayed convergence in post-communist economies is the role …

This paper proposes a pair-wise approach to testing for output convergence that considers all N(N-1)/2 possible pairs … of log per capita output gaps across N economies. A general probabilistic definition of output convergence is also …-2000. Overall, the results do not support output convergence, and suggest that the findings of convergence clubs in the literature …

-economy income convergence. Where RCK predicts partial income and consumption convergence between open economies Solow predicts full … convergence. This paper presents, by a small modification of the savings behavior in the Solow model, a framework that matches RCK … country size; that income growth will be a U-shaped function of initial income thus creating differentiated convergence; and …