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Currency unions, trade, and heterogeneity
Chen, Natalie; Novy, Dennis - 2018
How do trade costs affect international trade? This paper offers a new approach. We rely on a flexible gravity equation that predicts variable trade cost elasticities, both across and within country pairs. We apply this framework to the effect of currency unions on international trade. While we...
Persistent link: https://www.econbiz.de/10011867116
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The importance of accounting for time trends when estimating the Euro effect on trade
Bun, Maurice J. G.; Klaassen, Franc - 2004
To study the effect of the euro on international goods trade one typically estimates a panel model for the level of … euro is only present at the end of the sample, this may have led to an upward bias in existing euro estimates to help … have different effects across country-pairs. Data on industrialized countries over 1967-2002 show the existing euro effects …
Persistent link: https://www.econbiz.de/10011334328
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Estimating the impact of currency unions on trade using a dynamic gravity framework
Campbell, Douglas L. - 2012
Does leaving a currency union reduce international trade? This paper reexamines time series estimates of currency unions on trade from a historical perspective using a dynamic gravity equation and by conducting in-depth case studies of currency union breakups. The early large estimates are...
Persistent link: https://www.econbiz.de/10009686546
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The euro’s trade effect under cross-sectional heterogeneity and stochastic resistance
Herwartz, Helmut; Weber, Henning - 2010
This paper investigates if the euro's effect on euro-area trade differs across trade sectors and across country pairs …, and to what degree heterogeneity matters for estimating the aggregate euro effect. Time-varying latent variables, which …, aggregate exports within the euro area increase between 2000 and 2002 by 15 to 25 percent compared with aggregate exports …
Persistent link: https://www.econbiz.de/10003976871
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Do borders really slash trade? : a meta analysis
Havránek, Tomáš; Havránková, Zuzana - 2015
National borders reduce trade, but most estimates of the border effect seem puzzlingly large. We show that major methodological innovations of the last decade combine to shrink the border effect to a one-third reduction in international trade flows worldwide. The border effect varies across...
Persistent link: https://www.econbiz.de/10010485590
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Choosing an anchor currency for the Pacific
Freitag, Stephan - 2010
This paper analyses currency options for six Pacific states - Fiji, Papua New Guinea, Samoa, Solomon Islands, Tonga and Vanuatu - that issue their own currencies. Empirical estimates indicate that these states already stabilize their currencies against the US dollar because of their large and...
Persistent link: https://www.econbiz.de/10008667619
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Choosing an Anchor Currency for the Pacific
Freitag, Stephan - 2010
This paper analyses currency options for six Pacific states - Fiji, Papua New Guinea, Samoa, Solomon Islands, Tonga and Vanuatu – that issue their own currencies. Empirical estimates indicate that these states already stabilize their currencies against the US dollar because of their large and...
Persistent link: https://www.econbiz.de/10013137528
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Currency Unions and Trade : Variations on Themes by Rose and Persson
Kenen, Peter B. - 2003
Using a gravity equation, Andrew Rose finds that currency-union countries trade more intensively with each other than do other country pairs, and others report same result. Using a nonparametric test, however, Persson finds that trade flows between currency-union countries are not significantly...
Persistent link: https://www.econbiz.de/10014089446
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Breaking badly: the currency union effect on trade
Campbell, Douglas L.; Čencov, Aleksandr - 2020
Persistent link: https://www.econbiz.de/10012494197
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Breaking badly: the currency union effect on trade
Campbell, Douglas L.; Čencov, Aleksandr - 2021
Persistent link: https://www.econbiz.de/10012494291