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The euro’s trade effects
Baldwin, Richard E. - 2006
This paper reviews reassesses the methodology and principal findings of the “Rose effect”, i.e. the trade effects of currency union, looking at both EMU and non-EMU currency unions. The consensus estimate suggests that the euro has already boosted intra-euro area trade by five to ten...
Persistent link: https://www.econbiz.de/10011604640
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Trade integration of Central and Eastern European countries: lessons from a gravity model
Bussière, Matthieu; Fidrmuc, Jarko; Schnatz, Bernd - 2005
The aim of the paper is to analyse the factors behind the rapid trade integration of the Central and Eastern European countries with the euro area in the past ten years and to gauge the potential for further integration. We use as benchmark an enhanced gravity model estimated with a large sample...
Persistent link: https://www.econbiz.de/10011604591
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Economic integration and FDI: an empirical analysis of foreign investment in the EU and in Central and Eastern Europe
Brenton, Paul; DiMauro, Francesca; Lücke, Matthias - 1998
Recent evidence suggests that regional economic integration provides an important stimulus not only to trade, but also to FDI. In contrast, the available theory on FDI does not yet provide empirically testable propositions on the effects of concurrent trade and investment liberalisation....
Persistent link: https://www.econbiz.de/10010265368
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European integration and changing trade patterns: the case of the Baltic states
Laaser, Claus-Friedrich; Schrader, Klaus - 2002
The analysis of Baltic regional trade patterns reveals that during the nineties the Baltic states made significant progress to integrate into the Western European division of labour although a significant share of (transit) trade with Russia remained. In view of this development, history seems...
Persistent link: https://www.econbiz.de/10010265516
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The Baltic States' integration into the European division of labour
Laaser, Claus-Friedrich; Schrader, Klaus - 2004
The analysis of Baltic trade statistics and gravity estimates reveal that Estonia, Latvia and Lithuania have rapidly integrated into the international division of labour with a distinct EU focus. The Baltic States have taken a road towards the EU common market which pays particular attention to...
Persistent link: https://www.econbiz.de/10010273120
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The Determining Role of EU in Turkey's Trade Flows: A Gravity Model Approach
Bilici, Özgül; Erdil, Erkan; Yetkiner, I. Hakan - 2008
that econometrically designates the determinants of Turkey's trade flows via panel data approach. Next, we use this …
Persistent link: https://www.econbiz.de/10011807192
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Capital and Trade Flows in Europe and the Impact of Enlargement
Piazolo, Daniel; Buch, Claudia M. - 2000
The Eastern enlargement of the European Union (EU) is likely to give a further boost to trade and capital flows, yet empirical evidence on the possible magnitudes is still scarce. This paper uses four different datasets to estimate the determinants of international asset holdings and trade...
Persistent link: https://www.econbiz.de/10010260439
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Volume and comparative advantage in East-West trade
Trübswetter, Parvati; Schumacher, Dieter - 2000
The volume and commodity structure of EU trade with the transition countries in central and eastern Europe (CEECs) is estimated on the assumption that it will follow the pattern of trade among market economies. A gravity-type approach at the level of product groups is used, combining geography...
Persistent link: https://www.econbiz.de/10010260749
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Specialization, gravity, and European trade in final goods
Frensch, Richard; Hanousek, Jan; Kočenda, Evžen - 2012
We suggest that bilateral gravity equations augmented by ad hoc measures of absolute supply-side country differences are misspecified. Building on Haveman and Hummels (2004), we develop and test an alternative specification rooted in incomplete specialization that views bilateral gravity...
Persistent link: https://www.econbiz.de/10010318416
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Implied volatility of foreign exchange options: Is it worth tracking?
Gereben, Áron; Pintér, Klára - 2005
Market analysts and central banks often use the implied volatility of FX options as an indicator of expected exchange … deviate the value of implied volatility from the exchange rate variability expected by the market. These biasing factors are … one month. However, implied volatility provides a biased estimate, and does not encompass the information included in …
Persistent link: https://www.econbiz.de/10010322417