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This paper considers the impact on trade of preferential arrangements in Europe since the 1950s. Using a first difference version of the gravity model, we find that the EC and EFTA altered the pattern of international trade. We also find evidence of trade diversion in several cases, notably that...
Persistent link: https://www.econbiz.de/10012473587
regional trade and currency areas of today, such as the North American Free Trade Agreement and the EC's Single Market and …
Persistent link: https://www.econbiz.de/10012474505
Recent proposals for enlarging the European Community to include the EFTA countries raise the question of whether the new members should participate in a European Monetary Union. In part, the issue hinges on the incidence of aggregate supply and demand disturbances. We use data on prices and...
Persistent link: https://www.econbiz.de/10012475031