Artis, Michael J - C.E.P.R. Discussion Papers - 2006
within the EMU are very small, offering a means for insurance against asymmetric shocks. Finally, the lessons of another …, local, experiment in currency union is examined. But the useful lessons from this experiment (Ecco L’Euro) are found to be …, after a period in which very large estimates of the trade effect of currency unions were widespread, more modest estimates …