could rise by 12 percentage points should Iceland join the EU and EMU. This trade boost could consequently raise GDP per … join EMU could be enormous. However, by focussing simply on EMU rather than the broad range of currency unions studied by …Although entering a currency union involves both costs and benefits, an increasing body of research is finding that the …

. Unfortunately, this instrument is not appropriate for our study as EMU has no defined anchor currency, or any alternative anchors … the CFA Franc Zone in Africa). Thus within Rose’s original sample of countries less than 1% were in a currency union … EMU cannot be simply seen as a DM currency zone. 15 The countries are Austria, Belgium, Denmark, Germany, Greece …

currency union, looking at both EMU and non-EMU currency unions. The consensus estimate suggests that the euro has already …This paper reviews reassesses the methodology and principal findings of the "Rose effect", i.e. the trade effects of … in Europe and suggests a series of empirical test that could help identify the economic mechanisms involved …

Currency Areas I have elsewhere defined a cur- rency area (Mundell 1961 WHICH?) as a zone of fixed exchange rates and made a … distinction between true and pseudo currency areas (Mundell 1997a, 1997b). A true currency area is a zone of fixed exchange rates … inconvenience and that of their neighbours,a peculiar currency of their own. (P. 615) Has the world—or Europe— changed to such an …

. • Typically the first stage of analysis involves a preliminary assessment based on concentration ratios as to whether or not a … banking on such clients is not yet clear or uniform. On the one hand, electronic banking should lower the costs of screening … also be linked with how standards are developed and with whether banks are permitted to merge or enter joint ventures with …

. Although most countries noted the existence of telephone and/or Internet banking, this has not yet progressed to the extent … between them are necessary. Because of the political and economic sensitivity of the banking sector, it is perhaps not … a strengthening of prudential regulation focused on controls on the capital or “own funds” of banks and an expansion of …