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Internal devaluation in currency unions: The role of trade costs and taxes
Petroulakis, Filippos - 2017
recent euro periphery crisis. Trade costs can limit the pass-through of internal devaluation on export prices. Using data on … trade costs and taxes in internal devaluations, which have been brought to the fore of international policy during the … export prices "on the dock", I document that higher trade costs are associated with a lower reduction of export prices …
Persistent link: https://www.econbiz.de/10011667219
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"New" views on the optimum currency area theory: what is EMU telling us?
Mongelli, Francesco Paolo - 2002
, the balance of judgements has shifted in favour of currency unions. They are now deemed to generate fewer costs in terms …
Persistent link: https://www.econbiz.de/10011604184
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European integration: what lessons for other regions? The case of Latin America
Dorrucci, Ettore; Firpo, Stefano; Mongelli, Francesco Paolo - 2002
This paper tests for the hypothesis that institutional integration interacts with economic integration at the regional level. In particular, we ask what lessons can be drawn from the European experience with regional integration for Latin America. Several indicators of institutional and economic...
Persistent link: https://www.econbiz.de/10011604231
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International risk-sharing and the transmission of productivity shocks
Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - 2004
A central puzzle in international finance is that real exchange rates are volatile and, in stark contradiction to effcient risk-sharing, negatively correlated with cross-country consumption ratios. This paper shows that incomplete asset markets and a low price elasticity of tradables can account...
Persistent link: https://www.econbiz.de/10011604354
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Has the Euro affected the choice of invoicing currency?
Ligthart, Jenny E.; Werner, Sebastian E. V. - 2012
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency invoicing. Our approach uses a compositional multinomial logit model, in which currency choice is explained by both currency-specific and country-specific determinants. We use...
Persistent link: https://www.econbiz.de/10011605459
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Internal Devaluation in Currency Unions : The Role of Trade Costs and Taxes
Petroulakis, Filippos - 2017
recent euro periphery crisis. Trade costs can limit the pass-through of internal devaluation on export prices. Using data on … trade costs and taxes in internal devaluations, which have been brought to the fore of international policy during the … export prices "on the dock", I document that higher trade costs are associated with a lower reduction of export prices …
Persistent link: https://www.econbiz.de/10012956287
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Has the Euro Affected the Choice of Invoicing Currency?
Ligthart, Jenny E. - 2012
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency invoicing. Our approach uses a compositional multinomial logit model, in which currency choice is explained by both currency-specific and country-specific determinants. We use...
Persistent link: https://www.econbiz.de/10013112497
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Internal Devaluation in Currency Unions : The Role of Trade Costs and Taxes
Petroulakis, Filippos - 2022
recent euro periphery crisis. Trade costs can limit the pass-through of internal devaluation on export prices. Using data on … trade costs and taxes in internal devaluations, which have been brought to the fore of international policy during the … export prices ”on the dock”, I document that higher trade costs are associated with a lower reduction of export prices …
Persistent link: https://www.econbiz.de/10013308556
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A new optimum currency area index for the euro area
Kunovac, Davor; Rodriguez Palenzuela, Diego; Sun, Yiqiao - 2022
disrupted by crises, especially those not primarily triggered by common external shocks. In the aftermath of a crisis the OCA … index embarks on a recovery trajectory catching up with its pre-crisis level. Our OCA index is slow-moving and a good …
Persistent link: https://www.econbiz.de/10014278541
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Determinants of currency choice in cross-border bank loans
Emter, Lorenz; McQuade, Peter; Pradhan, Swapan-Kumar; … - 2024
distance, financial and trade linkages to issuer countries of major currencies, and invoicing currency patterns. Cross …
Persistent link: https://www.econbiz.de/10014543649