Ligthart, Jenny E.; Werner, Sebastian E.V. - In: Journal of International Money and Finance 31 (2012) 6, pp. 1551-1573
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency invoicing. Our approach uses a compositional multinomial logit model, in which currency choice is explained by both currency-specific and country-specific determinants. We use...