How much does the EMU benefit trade?

Reuven Glick and Andrew Rose

FRBSF Economic Letter, 2016

Abstract: The economic benefits of sharing a currency like the euro continue to be debated. In theory, countries that use the same currency face lower trade costs and exchange rate risk and are able to compare prices across borders more easily. These advantages should help increase trade among the economies involved. New estimates suggest that this has been the case in Europe, though perhaps to a lesser degree than previously thought.

Date: 2016
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