Micco, Alejandro; Stein, Ernesto H.; Ordoñez, … - Inter-American Development Bank - 2003
In this paper we estimate the early effect of the European Monetary Union (EMU) on trade. We use a panel data set that …, we find that the effect of EMU on bilateral trade between member countries ranges between 5 and 10 percent, when compared … to trade between all other pairs of countries, and between 9 and 20 percent, when compared to trade among non-EMU …