Why do Estimates of the EMU Effect on Trade Vary so Much?

Andrew Rose

Open Economies Review, 2017, vol. 28, issue 1, No 1, 18 pages

Abstract: Abstract Larger data sets, with more countries and a longer span of time, exhibit systematically larger effects of European monetary union on trade. I establish this stylized fact with meta-analysis and confirm it by estimating a plain-vanilla gravity model. I then explain this finding by examining systematic biases in “multilateral resistance to trade” manifest in time-varying country fixed effects; bias grows as the sample is truncated by dropping small poor countries.

Keywords: Gravity; Exports; Span; Country; Meta; Common; Currency; Monetary; Union; Panel (search for similar items in EconPapers)
JEL-codes: F14 F33 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (31)

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Working Paper: Why Do Estimates of the EMU Effect On Trade Vary so Much? (2016)
Working Paper: Why Do Estimates of the EMU Effect On Trade Vary so Much? (2016)
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DOI: 10.1007/s11079-016-9420-1

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