A non-parametric re-assessment of the trade effects of the euro using value added data
Pierluigi Montalbano (),
Silvia Nenci () and
Laura Dell'Agostino ()
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Silvia Nenci: Department of Economics, Rome Tre University (IT).
Laura Dell'Agostino: Department of Management, Economics and Industrial Engineering, Politecnico di Milano (IT).
No 9/19, Working Papers from Sapienza University of Rome, DISS
This work presents an original contribution to the debate on the trade effects of the euro, recently revamped by Glick and Rose (2016). It provides a re-assessment of the effects of the euro by focusing on trade in value added and applying non-parametric matching techniques that control for non-linearity-with-self-selection. In line with Persson (2001), we show a less positive post-assessment of the euro effect on intra-EMU trade flows. However, we detect a robust positive impact of the euro on trade shares in selected value added components net to the single market effect. These results are robust to a large set of sensitivity checks.
Keywords: trade in value added; monetary union; global value chains; production fragmentation; euro; non-parametric estimates. (search for similar items in EconPapers)
JEL-codes: F10 F12 F15 F45 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec and nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:saq:wpaper:9/19
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