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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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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

Abstract: 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)
Date: 2019-10
New Economics Papers: this item is included in nep-eec and nep-int
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