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| Author: | Micco, A. Stein, E. Ordoñez, G. |
| Title: | The currency union effect on trade: early evidence from EMU |
| Journal: | Economic Policy
2003 : OCT, 37, p. 315-356 |
| Index terms: | Currency Euro European Monetary System European Union Trade |
| Language: | eng |
| Abstract: | The size and nature of the trade effects of euro are even more important for the EU members that have not joined the euro: the UK, Denmark, Sweden and the ten new nations. What are they missing? Will they face trade diversion if they do not join? For example, the debate on whether or not to join is raging in the UK where it has been polarized to an extraordinary degree. This debate is in serious need of economic analysis, in order to help clarify the potential impact of the euro on a number of dimensions, one of which is trade. This article contributes to this debate by providing estimates of the currency union effect on trade, for the specific case of the countries in the European Union. |
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