Showing 1 - 10 of 494
The demise of the CMEA trading system in 1991 and the shift to convertible currency settlements and world market prices …
Persistent link: https://www.econbiz.de/10005136560
The paper analyzes the role of a multilateral payments union (PU) between East European countries (EEPU) as an intermediate solution in the process to full convertibility. After a description of the main functions of a PU, which is based on the historical model of the European Payments Union, it...
Persistent link: https://www.econbiz.de/10005497971
This paper presents new estimates of the economic benefits from economic and political integration. Using the synthetic counterfactuals method, we estimate how GDP per capita and labour productivity would have behaved for the countries that joined the European Union (EU) in the 1973, 1980s, 1995...
Persistent link: https://www.econbiz.de/10011084144
The paper empirically analyzes asymmetries in the EMS with special reference to their implication for the creation of a monetary union (EMU). Two types of asymmetries are analyzed: those in the form of "German dominance" are detected in the conduct of monetary policies in the EMS, in particular...
Persistent link: https://www.econbiz.de/10005124043
We identify in this Paper the level of trade integration between the three largest economic powers of the world, often …
Persistent link: https://www.econbiz.de/10005504710
: 1) the World Trade Organization (WTO) and its predecessor the Generalized Agreement on Tariffs and Trade (GATT); 2) the … ‘gravity’ model of bilateral merchandise trade and a large panel data set covering over 50 years and 175 countries. My results …
Persistent link: https://www.econbiz.de/10005504751
The majority of independent nations today were part of empires in 1945. Using bilateral trade data from 1948 to 2006, we examine the effect of independence on post-colonial trade. On average, there is little short run effect of trade with the colonizer (metropole). However, after three decades...
Persistent link: https://www.econbiz.de/10005497770
used as regressors in a gravity equation of trade. Instead, the indirect approach infers the extent of trade impediments …
Persistent link: https://www.econbiz.de/10011083427
The demand for accountability in “Aid-for-Trade” (AFT) is increasing but monitoring has focused on case-studies and impressionistic narratives. The paper reviews recent evidence from a wide range of studies, recognizing that a multiplicity of approaches is needed to learn what works and what...
Persistent link: https://www.econbiz.de/10011083462
This paper derives a micro-founded gravity equation based on a translog demand system that allows for flexible … substitution patterns across goods. In contrast to the standard CES-based gravity equation, translog gravity generates an … trade flows predicted to be zero. I test the translog gravity equation and find empirical evidence that is in many ways …
Persistent link: https://www.econbiz.de/10011083929