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Is intra-industry trade specialization a precondition to business cycle synchronization when joining the Euro Area? : the Case of Poland
Kawecka-Wyrzykowska, Elżbieta - In: International journal of management and economics 53 (2017) 4, pp. 50-60
The first objective of this paper is to present theoretical approaches to the impact of trade growth (induced by monetary integration) on business cycle synchronization which is an important factor of a country's readiness for a currency union accession. The main conclusion from the first part...
Persistent link: https://www.econbiz.de/10012026961
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International trade and monopolistic competition without CES : estimating translog gravity
Novy, Dennis - 2010
This paper derives a micro-founded gravity equation in general equilibrium based on a translog demand system that allows for endogenous markups and rich substitution patterns across goods. In contrast to standard CES-based gravity equations, trade is more sensitive to trade costs if the...
Persistent link: https://www.econbiz.de/10003956003
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Putting currency misalignment into gravity : the currency union effect reconsidered
Hogrefe, Jan; Jung, Benjamin; Kohler, Wilhelm - 2012
Member countries of a currency union like the euro area have absorbed asymmetric shocks in ways that are inconsistent with a common nominal anchor. Based on a reformulation of the gravity model that allows for such bilateral misalignment, we disentangle the conventional microeconomic trade...
Persistent link: https://www.econbiz.de/10009530354
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Tax Thy Neighbour : Corporate Tax Pass-Through into Downstream Consumer Prices in a Monetary Union
Dedola, Luca; Osbat, Chiara; Reinelt, Timo - 2022
We estimate the response of product-level retail prices to changes in the corporate tax rates paid by wholesale producers (pass-through). Under perfect competition in goods and factor markets, pass-through of corporate taxes should be zero, and their incidence mainly falls on factor prices. We...
Persistent link: https://www.econbiz.de/10014080686
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Controlled dismantlement of the euro area in order to preserve the European Union and Single European Market
Kawalec, Stefan; Pytlarczyk, Ernest - 2012
decisive defence of the euro, because the single currency's demise is said to be the beginning of the end of the EU and Single … disintegration of the EU and the Single European Market rather than their further strengthening. The fundamental problem with the … get out of control and trigger a chaotic break-up of the euro zone, threatening the future of the whole EU and Single …
Persistent link: https://www.econbiz.de/10009550684
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Macroeconomic aspects of European integration : fiscal policy, trade integration and the European business cycle
Crespo Cuaresma, Jesús; Pfaffermayr, Michael; Amador, … - 2011
We analyze the role of fiscal policy and intra-European trade in business cycle synchronization in the EU for the … differences with respect to the EU and trade specialization within the EU framework. Our results show that both fiscal policy and … adequacy of potential future EMU countries and the need for a broad agreement concerning fiscal policy at the EU level. …
Persistent link: https://www.econbiz.de/10011392349
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Effects of European monetary integration on intra-EMU foreign direct investment
Pantelidis, Pantelis; Kyrkilis, Dimitrios; … - In: Spoudai : journal of economics and business 64 (2014) 4, pp. 67-74
The creation of the European Monetary Union (EMU) created the conditions for increased trade and economic growth for the member countries. The initial hypothesis regarding the impact of euro launch in terms of Foreign Direct Investment (FDI) inflows was that monetary integration will affect...
Persistent link: https://www.econbiz.de/10011279846
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Completing the monetary union of Europe as mid-term solution of the Euro crisis
Fischer, Justina A. V.; Pastore, Francesco - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10011308548
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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 trade. Trade levels increase over time, and we show that this is not fully explained by the included regressors. Because the euro is only present at the end of the sample, this may...
Persistent link: https://www.econbiz.de/10011334328
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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-effect directly from data that include EMU observations. Using...
Persistent link: https://www.econbiz.de/10011327839