A multilateral currency union removes the intraregional exchange rates but not the union rate variability with the rest of the world. The intraregional exchange rate variability is thus latent. A two-step procedure is developed to measure the variability. The measured variables are used to model...

At a time when regional production networks have been resurgent, especially in Asia, why has India's integration in regional markets had not been deeper? Using highly disaggregated trade data and an analysis of industry perspectives based on semi-structured interviews with a sample of firms and...