The authors employ the econometric techniques of multivariate cointegration and error-correction models to investigate the impact of the creation of the European Monetary System (EMS) on the volume of intra-European Union (EU) Exports for eight EU countries.

We analyse the long-run and short-run relationship between merchandise export volume and its determinants, foreign income, relative prices and exchange rate variability, using the techniques of cointegration and error correction. The model was estimated for Irish exports and sectoral exports...

By employing the techniques of multivariate cointegration and error-correction models, we investigate the impact of the creation of the European Monetary System (EMS) on the exports of the four largest EU countries to each other. Our findings suggest that the impact of the EMS on bilateral...

We show that if exchange rate pass-through is incomplete, a country's terms of trade may move in the same or contrary direction to the nominal value of its currency. Moreover, when the degree of pass-through is endogenous, the trade balance must improve if the currency devalues.

We attempt to investigate whether the ERM period coincided with an increase in intra-Eu exports. We conclude that this has not been the case but it is likely that the elimination of nominal exchange rate variability arising from a single currency will boost intra-EU trade.

By utilizing the techniques of multivariate cointegration and error correction models, we investigate the impact of the different exchange-rate regimes that spanned the 20th century on the bilateral reports between the UK and the US over the last 98 years.