CASTRO, Rui; KOUMTINGUÉ, Nelnan - Département de Sciences Économiques, Université de … - 2011
. Consistently with evidence on economic integration, unions in our model occur (i) relatively infrequently, and (ii) emerge more …Which countries find it optimal to form an economic union? We emphasize the risk-sharing benefits of economic … integration. We consider an endowment world economy model, where international financial markets are incomplete and contracts not …