• 1. Introduction
  • 2.1 Sectoral and geographical breakdown
  • 2.2 A broad assessment of invoicing
  • 3. Econometric analysis
  • 3.1. Explanatory variables
  • 3.2. Econometric assessment of invoicing
  • 4. The standard theoretical drivers of invoicing with multiple currencies
  • 4.1. A simple model
  • 4.2. Empirical implications
  • 4.3. The role of transaction size
  • 5. A bargaining view of invoicing
  • 5.1. Consumer surplus
  • 5.2. Producer surplus
  • 5.3. Pricing
  • 5.4. Invoicing
  • 5.5. Invoicing and consumer size
  • 5.6. Discussion
  • 6. Concluding Remarks
  • References