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On the Optimality of Economic Integration

Nelnan Koumtingué () and Rui Castro ()

No 1043, 2009 Meeting Papers from Society for Economic Dynamics

Abstract: We uncover conditions on the initial income and net foreign assets of potential union members such that forming a union is welfare-improving over standing alone in the world economy. Our model predicts that economic unions (i) occur relatively infrequently, and are more likely to emerge (ii) among homogeneous countries, and (iii) among rich countries.

Date: 2009
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More papers in 2009 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
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