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Measuring the Trade Effects of EMU

Author/Editor: Faruqee, Hamid
Authorized for Distribution: August 1, 2004
Electronic Access: Free Full Text (PDF file size is 337KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper examines the impact of European Economic and Monetary Union (EMU) on trade within the euro area. Using panel data for 22 industrial countries, the analysis estimates the effect of the euro's arrival on area-wide trade compared to bilateral trade flows between other industrial countries. Controlling for other influences according to the "gravity" model of trade, the panel analysis employs cointegration techniques to obtain reliable point estimates of EMU trade effects. Cross-country differences with respect to EMU trade gains and underlying factors accounting for these differences are also further explored.
 
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Series: Working Paper No. 04/154
Subject(s): Trade | European Economic and Monetary Union | Bilateral trade | Euro area
Author's keyword(s): Currency Unions | Gravity Model | Bilateral Trade
 
English  
    Published:   August 1, 2004        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA1542004   Pages:   28
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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