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This paper analyzes the effects of exchange rate volatility on bilateral trade flows. Through use of a gravity model and panel data from western Europe, exchange rate uncertainty is found to have a negative effect on international trade. The results seem to be robust with respect to the...
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The sheer size of mandated trade among members of the Council for Mutual Economic Assistance (CMEA), and its composition and quality, means that its reorientation toward other markets entails a whole complex of structural adjustment policies. To be successful, policy reform must be...
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the gravity model and focusing on two samples, the world and Africa. Our empirical findings suggest that, in principle …, membership in a currency union should benefit Africa as much as it does the rest of the world. In addition, we find evidence from …
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