Estimating a theoretical gravity model over a sixty-year period, from 1948 to 2009, I found an unexpected trend: the … currency union impact on trade is decreasing over time. This result suggests that with trade and financial globalization … currency unions become less and less important to promote trade. …

We re-visit the evidence about the trade benefits of European Monetary Union (EMU), focusing on the experience of … countries which adopted the common currency since 2002. Based on “state of the art” gravity estimations for the period 1992 …-2013, we reach three main conclusions. First, estimates from an appropriately specified and estimated gravity equation provide …

We re-visit the evidence about the trade benefits of European Monetary Union (EMU), focusing on the experience of … countries which adopted the common currency since 2002. Based on "state of the art" gravity estimations for the period 1992 …-2013, we reach three main conclusions. First, estimates from an appropriately specified and estimated gravity equation provide …

How do trade costs affect international trade? This paper offers a new approach. We rely on a flexible gravity equation … that predicts variable trade cost elasticities, both across and within country pairs. We apply this framework to the effect … of currency unions on international trade. While we estimate that currency unions are associated with a trade increase of …

How do trade costs affect international trade? This paper offers a new approach. We rely on a flexible gravity equation … that predicts variable trade cost elasticities, both across and within country pairs. We apply this framework to the effect … of currency unions on international trade. While we estimate that currency unions are associated with a trade increase of …

unions on trade from a historical perspective using a dynamic gravity equation and by conducting in-depth case studies of …Does leaving a currency union reduce international trade? This paper reexamines time series estimates of currency … methodology has general applicability for the use of gravity equations in policy analysis, and yields an imprecise point estimate …

This paper revisits the early time series estimates of currency unions on trade from an historical perspective using a … dynamic gravity equation and by conducting in-depth case studies of currency union breakups. The early large estimates were …'etats, genocide, bloody wars of independence, various other geopolitical travesties, or were predated by trade collapses. Static …

unions on trade from a historical perspective using a dynamic gravity equation and by conducting in-depth case studies of …Does leaving a currency union reduce international trade? This paper reexamines time series estimates of currency … methodology has general applicability for the use of gravity equations in policy analysis, and yields an imprecise point estimate …

This chapter offers a selective survey of the gravity equation (GE) in international trade. This equation started in … the Sixties as a purely empirical proposition to explain bilateral trade flows, without little or no theoretical … basic GE form was consistent with various models of trade flows. Empirical applications of GE expanded to cover a variety of …