Breedon, Francis; Pétursson, Thórarinn G. - In: Cambridge Journal of Economics 30 (2006) 5, pp. 723-736
Although entering currency (and customs) unions involve both costs and benefits, an increasing body of research is finding that the benefits--in terms of international trade creation--are remarkably large. Focusing simply on the European Monetary Union (EMU) rather than the broad range of...