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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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OCA theory and EMU Eastern enlargement : an empirical application
Weimann, Marco - 2003 - This version: April 2003
years. Some studies aim at analysing the suitability of these Euro aspirants for currency union with EMU by evaluating the …
Persistent link: https://www.econbiz.de/10010503148
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OCA theory and EMU eastern enlargement : an empirical application
Weimann, Marco - 2002
Already before the final introduction of the single European currency there have been negotiations on a further enlargement of the Eurozone to the East. The accession of 10 Central and Eastern European Countries (CEEC) to Euroland is likely to be realised within the next 10 years and it is an...
Persistent link: https://www.econbiz.de/10010506205
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Regional Risksharing and Redistribution in the German Federation
Hepp, Ralf; von Hagen, Jürgen - 2005
We provide empirical estimates of the risksharing and redistributive properties of fiscal equalization among the states of the German federation. Fiscal equalization serves as a mechanism to insure state budgets against asymmetric revenue shocks, but provides almost no insurance against regional...
Persistent link: https://www.econbiz.de/10014062024
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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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Real interest parity in the EU and the consequences for euro area membership : panel data evidence, 1979 - 2005
O'Brien, Martin (contributor) - 2007
(OCA) criteria. Using the DF-GLS and the CIPS* panel unit root test, RIP is tested for a sample of Euro area and non-Euro … most of the sample between 1979 M3 and 1998 M12. There is evidence in favour of RIP for most of the Euro area sample during … the 1999 M1 – 2005 M12 sub-period, exceptions being Ireland, Italy and Spain. RIP does not hold for any of the non-Euro …
Persistent link: https://www.econbiz.de/10003449239
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The Suitability of a Greater China Currency Union
Cheung, Yin-Wong - 2013
The study assesses the level of integration among the three Greater China economies (namely China, Hong Kong, and Taiwan) and examines the suitability of a Greater China currency union. Currently, the three economies have extensive trade and investment linkages. Our analyses show that these...
Persistent link: https://www.econbiz.de/10012754602
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The Suitability of a Greater China Currency Union
Research, Hong Kong Institute for Monetary and Financial - 2022
This working paper was written by Yin-wong Cheung (University of California, Santa Cruz) and Jude Yuen (University of California, Santa Cruz).The study assesses the level of integration among the three Greater China economies (namely China, Hong Kong, and Taiwan) and examines the suitability of...
Persistent link: https://www.econbiz.de/10014048654
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The Case for Monetary Union Reexamined with the Benefit of the Single Monetary Policy
von Furstenberg, George M. - 2004
disturbances and hence less symmetry among the national disturbance effects that remain. But recent evidence from the euro area …
Persistent link: https://www.econbiz.de/10014069908
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The Case for Monetary Union Reexamined with the Benefit of the Single Monetary Policy
von Furstenberg, George M. - 2004
disturbances and hence less symmetry among the national disturbance effects that remain. But recent evidence from the euro area …
Persistent link: https://www.econbiz.de/10014074372