The consequences of regional trade agreements (RTAs) on countries׳ welfare are disputed. In this paper, we assess these … between countries that already engage in high volumes of trade. Stock markets also rise more when poorer countries sign RTAs …, and when RTAs are signed with smaller partners. We also find no evidence that capital markets expect significant trade …

unions to estimate the effect of currency unions on trade using (then-) conventional gravity models. In this paper, we use a … variety of empirical gravity models to estimate the currency union effect on trade and exports, using recent data which … a smaller trade effect than other currency unions; it has a mildly stimulating effect at best. Third and most …

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 … same currency. I find a large positive effect of a currency union on international trade, and a small negative effect of …

This paper shows that proximity to major international financial centers seems to reduce business cycle volatility. In … experience more volatile growth rates in both output and consumption, even after accounting for political institutions, trade …

dampening effect on trade volatility …I examine the hypothesis that membership in the World Trade Organization (WTO) and its predecessor the General … Agreement on Tariffs and Trade (GATT) has increased the stability and predictability of trade flows. I use a large data set …

This paper addresses the issue of whether regimes of fixed exchange rates are a mechanism for shifting volatility inter … devaluations reveals little evidence of significant increases in volatility following these events …

Fixed exchange rates are less volatile than floating rates. But the volatility of macroeconomic variables such as money … exchange rate volatility and macroeconomic stability …