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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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Currency Unions, Trade, and Heterogeneity
Chen, Natalie - 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/10012912676
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Reconsidering the Trade-Creating Effects of a Currency Union
Pakko, Michael Robert; Wall, Howard J. - 2001
This paper reconsiders recent empirical evidence found by Andrew Rose that countries adopting a common currency will triple their bilateral trade. We find that this large estimated effect is due to estimation bias arising from missing and/or misspecified time-invariant factors, rather than to...
Persistent link: https://www.econbiz.de/10014128477
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The Euro's Effects on Trade in a Dynamic Setting
de Nardis, Sergio; de Santis, Roberta; Vicarelli, Claudio - 2007
This paper provides an update of de Nardis and Vicarelli (2003) estimates of the euro effect on trade integration of … consistent with the already tight trade links characterizing the economies that embraced the euro and with the possibility that …
Persistent link: https://www.econbiz.de/10014051496
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Has the Euro increased trade?
Bun, Maurice J. G.; Klaassen, Franc - 2002
A major economic reason for the introduction of the euro was its supposedly positive effect on intra-EMU trade …. Existing studies examine this suspicion indirectly using non-EMU data and report ambiguous results. We estimate the euro … euro has significantly increased trade, with an effect of 4% in the first year and cumulating to around 40% in the long …
Persistent link: https://www.econbiz.de/10011327839
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Braucht es monetäre und reale Konvergenz für eine (in einer) Währungsunion? : Anmerkungen zu einer aktuellen Debatte
Sell, Friedrich L. - 2001
Mitgliedern der Währungsunion ist. Bei der Aufnahme weiterer Mitglieder in die EURO-Zone sind sowohl realwirtschaftliche als auch … determine the members of the EURO zone. The Maastricht criteria suffer from two weaknesses: neither do they reflect sufficiently … sectors (tradeables, non-tradeables) in the respective member countries. In the light of the forthcoming widening of the EURO …
Persistent link: https://www.econbiz.de/10001596617
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Hard/Soft Monetary Unions and Blockchain Dynamics
Hegadekatti, Kartik - 2017
The Brexit issue has caused much concern regarding the future economic scenario of Europe in particular and the world in general. There are several reasons for Brexit. One of them is that the very nature of Monetary Unions is its rigidity. The 'one size fits all' yardstick won't apply to many...
Persistent link: https://www.econbiz.de/10012956687
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Braucht es monetäre und reale Konvergenz für eine (in einer) Währungsunion? : Anmerkungen zu einer aktuellen Debatte
Sell, Friedrich L. - 2001
Mitgliedern der Währungsunion ist. Bei der Aufnahme weiterer Mitglieder in die EURO-Zone sind sowohl realwirtschaftliche als auch … determine the members of the EURO zone. The Maastricht criteria suffer from two weaknesses: neither do they reflect sufficiently … sectors (tradeables, non-tradeables) in the respective member countries. In the light of the forthcoming widening of the EURO …
Persistent link: https://www.econbiz.de/10010508238
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How to increase the value of bilateral trade? : currency union versus fixed exchange rate regime
Stoykova, Oleksandra Ivanievna - In: Entrepreneurial business and economics review : EBER 9 (2021) 2, pp. 21-38
Objective: The objective of the article is to determine which exchange rate regime provides higher bilateral trade: fixed rate or currency union. Research Design & Methods: An index was designed based on variables commonly recognised as those that might affect the value of bilateral trade and...
Persistent link: https://www.econbiz.de/10012520004
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Independence of the Central Bank, Growth and Coalitions in a Monetary Union
Hellier, Joël - 2012
Within a Monetary Union, we assume that the policy of a hard-nosed central bank results in a real appreciation of the Union currency, which is in contradiction with the growth targets of several countries. These countries may join together to question the policy of the bank. As a consequence,...
Persistent link: https://www.econbiz.de/10013101879