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The euro area will not have a centralized budget, and smoothing of country-specific asymmetric shocks via private …
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the member countries. The initial hypothesis regarding the impact of euro launch in terms of Foreign Direct Investment … theory and empirical research like market size, labor cost, openness, technology, interest rate and introduction of the Euro …
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of history confirm the stability of the euro as a single currency in the region and it is seen as a great achievement of …
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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...
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