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could rise by 12 percentage points should Iceland join the EU and EMU. This trade boost could consequently raise GDP per … can up to triple their trade by joining a currency union. If true the impact on trade, income and welfare should Iceland … findings suggest that the Iceland's trade with other EMU countries could increase by about 60% and that the trade-to-GDP ratio …
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EMU is smaller, but still substantial. Our findings suggest that the Iceland's trade could increase by about 60% and that … the trade-to-GDP ratio could rise by 12 percentage points should Iceland join the European Union and EMU …
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In 1999, eleven European countries formed the Economic and Monetary Union (EMU); they abandoned their national currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by itself) to a sizable and statistically significant...
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