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Currency Unions and International Integration: Evidence from the CFA and the ECCU

Fielding, David; Shields, Kalvinder - Department of Economics, Leicester University - 2001

In this paper we develop a model to identify real exchange rate and output shocks in the African CFA Franc Zone and in Dollar-pegging Caribbean countries (including members of the East Caribbean Currency Union). These two groups of countries each comprise states using several different local...

Persistent link: https://www.econbiz.de/10005422736

The currency union effect on trade is decreasing over time

de Sousa, José - In: Economics Letters 117 (2012) 3, pp. 917-920

Estimating a theoretical gravity model over a sixty-year period, from 1948 to 2009, I found an unexpected trend: the currency union impact on trade is decreasing over time. This result suggests that with trade and financial globalization, currency unions become less and less important for...

Persistent link: https://www.econbiz.de/10010594068

Comparative Analysis between the Economies of the Euro Area and the USA

Cristina, Puiu - In: Ovidius University Annals, Economic Sciences Series XI (2011) 1, pp. 1773-1778

Differences in economic performance between the USA and the euro area have been the subject of much debate. Even though these large economies might be considered similar, there can be identified some differences. This paper aims to realize a parallel between two of the largest monetary unions in...

Persistent link: https://www.econbiz.de/10010631893

The Euro's Effects on Trade in a Dynamic Setting

Nardis, Sergio de; Santis, Roberta De; Vicarelli, Claudio - In: European Journal of Comparative Economics 5 (2008) 1, pp. 73-85

This paper provides an update on estimates of the euro effect on trade integration among EMU economies, taking into …

Persistent link: https://www.econbiz.de/10004965113

The trade and FDI effects of EMU enlargement

Brouwer, Jelle; Paap, Richard; Viaene, Jean-Marie - 2007

European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component …. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5% for Poland and 30% for …

Persistent link: https://www.econbiz.de/10011372974

The endogeneity approach of the theory of optimum currency areas: what does it mean for ASEAN + 3?

Löchel, Horst; Baumann, Stefan - 2006

The paper analyzes if and how the experiences of European integration can be used for the progress of East Asia integration especially of the ASEAN+3 countries1. Of special interest is the relevance of the new endogeneity approach of monetary integration for East Asia. The question is discussed...

Persistent link: https://www.econbiz.de/10010298914

Braucht es monetäre und reale Konvergenz für eine (in einer) Währungsunion? Anmerkungen zu einer aktuellen Debatte

Sell, Friedrich L. - 2001

European treaty. Moreover, as long as the distance to the core of the EMU countries is still large, real convergence criteria …

Persistent link: https://www.econbiz.de/10010300395

The Importance of Accounting for Time Trends when Estimating the Euro Effect on Trade

Bun, Maurice J.G.; Klaassen, Franc J.G.M. - 2003

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/10010324985

Has the Euro increased Trade?

Bun, Maurice J.G.; Klaassen, Franc J.G.M. - 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 a dynamic panel model for annual bilateral exports, we find that the …

Persistent link: https://www.econbiz.de/10010325067

One Money, One Cycle? The EMU Experience

Gächter, Martin; Riedl, Aleksandra - 2013

cycles among members of Economic and Monetary Union (EMU) which might arise due to the lack of country-specific monetary …

Persistent link: https://www.econbiz.de/10013370103