In this paper we estimate the early effect of the European Monetary Union (EMU) on trade and its possible effects on the UK. We use a panel data set that includes the most recent information on bilateral trade for 22 developed countries from 1992 through 2001. After 1999, 12 European countries...

This Paper Shows That Evidence of a Unit Root in Gnp Can Be Consistent with a Contract-Based Approach to Business Cycles Unlike Previous Attempts on the Persistence of Output Fluctuations in Models with Nominal Rigidities, It Is Shown That a Shift From a Situation of Weak Or Moderate Nominal...

In this lecture I will not be concerned with either the timetable or the mechanics of the transition from national currencies to full monetary union. Rather, I propose to deal with three topics - the economic rationale for monetary union, the type of EMU which the Maastricht Treaty is likely to...

Empirical research on interest rate linkages within the European Monetary System (EMS) has concentrated on the concepts of asymmetry and German dominance. Asymmetry is usually taken to mean that German monetary policy is invariant to shocks in other EMS economies while dominance implies that the...

This paper aims to collaborate with the discussion about the factors that try to explain the economic behavior in Latin America countries, considering the importance of some attributes related to social capital (ie interpersonal trust, which leads to association and civic commitment, performing...

We conducted an audit experiment to examine whether street vendors in Bogotá (Colombia) exert price discrimination based on buyers' attributes, such as gender and nationality, and based on product characteristics, such as the increasing marginal valuation of items needed to complete a...