1.

Record Nr.

UNINA9910463993403321

Autore

Eicher Theo S

Titolo

One money, one market [[electronic resource] ] : a revised benchmark / / prepared by Theo Eicher and Christian Henn

Pubbl/distr/stampa

[Washington, D.C.], : International Monetary Fund, Strategy, Policy, and Review Dept., 2009

ISBN

1-4623-8300-9

1-4527-5006-8

1-4518-7333-6

9786612843969

1-282-84396-6

Descrizione fisica

1 online resource (25 p.)

Collana

IMF working paper ; ; WP/09/186

Altri autori (Persone)

HennChristian <1978->

Disciplina

332.4566094

Soggetti

Monetary unions

Tariff

Free trade

Electronic books.

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

"September 2009."

Nota di contenuto

Contents; I. Introduction; II. Data; III. Empirical Implementation of the Gravity Model; IV. Multilateral Resistance and the Trade Effects of Currency Unions; V. Benchmark CU Trade Effects addressing Multilateral Resistance and Unobserved Bilateral Heterogeneity; VI. Sensitivity Analysis; VII. Conclusion; Tables; 1. Trade Effects of Currency Unions; 2. Sensitivity Analysis: Average Currency Union Effects on Trade; 3. Sensitivity Analysis: Trade Effects of Individual Currency Unions; Appendix Table; A1. Countries in Sample; A2. Membership and Observations for Currency Unions and Boards

A3. Membership in Preferential Trade AgreementsA4. Bilateral Preferential Trade Agreements; References

Sommario/riassunto

The introduction of the euro generated substantial interest in measuring the impact of currency unions (CUs) on trade flows. Rose's (2000) initial estimates suggested a tripling of trade and created a literature in search of ""more reasonable"" CU effects. A recent meta-



analysis of this literature shows that subsequent papers quantify CU trade impacts at 30-90 percent. However, most recent studies use shorter time series and fewer countries than Rose in his original work. We revisit Rose's original benchmark, extend the dataset, and address Baldwin's (2006) critiques regarding the proper speci