This paper provides evidence of heterogeneous treatment effects on trade for six different types of exchange rate regime transitions, utilizing data on 218,643 country-pair-year observations all together. Previous research mainly focused on the currency union effect on trade and widely assumed...

This paper assesses duration-specific treatment effects of fixed currency regimes on bilateral trade along a duration path of up to 25 years. We find that country-pairs with fixed exchange rate regimes trade more, but only after about 8 years.