This paper presents an updated meta-analysis of the effect of currency unions on trade, focusing on the Euro area. Using meta-regression methods such as funnel asymmetry test, evidence for strong publication bias is found. The estimated underlying effect for non-Euro studies reaches about 50%....

This paper presents an updated meta-analysis of the effect of currency unions on trade, focusing on the Euro area. Using meta-regression methods such as funnel asymmetry test, evidence for strong publication bias is found. The estimated underlying effect for non-Euro studies reaches about 50%....

Meta-analysis upweights studies reporting lower standard errors and hence more precision. But in empirical practice, notably in observational research, precision is not given to the researcher. Precision must be estimated, and thus can be p-hacked to achieve statistical significance. Simulations...