important policy areas: capital markets, trade & FDI, labour markets, exchange rate policy, and monetary and fiscal policy …

This paper contributes to the literature on the impact of EMU on trade, adding two new elements. First, we propose a … theoretical model for explaining how the euro could have increased trade by the large amounts found in the empirical literature … monopolistic competition set-up, the effect of exchange rate uncertainty on trade has nonlinear features, suggesting that EMU and a …

This paper reviews reassesses the methodology and principal findings of the “Rose effect”, i.e. the trade effects of … boosted intra-euro area trade by five to ten percent. The paper discusses a gamut of models that might explain the Rose effect …