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dc.contributor.authorCamarero, Mariam
dc.contributor.authorGómez-Herrera, Estrella
dc.contributor.authorTamarit, Cecilio
dc.date.accessioned2014-02-27T10:47:46Z
dc.date.available2014-02-27T10:47:46Z
dc.date.issued2013-09
dc.identifier.citationCAMARERO, Mariam; GÓMEZ, Estrella; TAMARIT, Cecilio. EMU and Trade Revisited: Long‐Run Evidence Using Gravity Equations. The World Economy, 2013, 36.9: 1146-1164.ca_CA
dc.identifier.urihttp://hdl.handle.net/10234/84931
dc.description.abstractIn this paper, we present evidence of the long-run effect of the euro on trade for the twelve initial EMU countries for the period 1967–2008 from a double perspective. First, we pool all the bilateral combinations of trade flows among the EMU countries in a panel cointegration gravity specification. Second, we estimate a gravity equation for each of the EMU members vis-à-vis the other eleven partners. We apply panel cointegration techniques based on factor models that account for cross-dependence and structural breaks. Whereas the joint gravity equation provides evidence on the aggregate effect of the euro on intra-European trade, by isolating the individual countries, we assess which of the member countries have obtained a larger benefit from the euro. The results show that the euro has had a positive though small effect on trade. Belgium and Luxembourg, France and Italy are the countries more benefited from the introduction of the euro. The effects for exports to third countries are in general more moderate, and, with the exception of Greece, there is no evidence of diversion effects.ca_CA
dc.format.extent18 p.ca_CA
dc.format.mimetypeapplication/pdfca_CA
dc.language.isoengca_CA
dc.publisherWileyca_CA
dc.relation.isPartOfThe World Economy, Volume 36, Issue 9, September 2013ca_CA
dc.rights.urihttp://rightsstatements.org/vocab/CNE/1.0/*
dc.subjectGravity modelsca_CA
dc.subjectExportsca_CA
dc.subjectEuroca_CA
dc.subjectpanel cointegrationca_CA
dc.subjectstructural breaksca_CA
dc.subjectcross- section dependenceca_CA
dc.titleEMU and Trade Revisited: Long-Run Evidence Using Gravity Equationsca_CA
dc.typeinfo:eu-repo/semantics/articleca_CA
dc.identifier.doihttp://dx.doi.org/10.1111/twec.12090
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessca_CA
dc.relation.publisherVersionhttp://onlinelibrary.wiley.com/doi/10.1111/twec.12090/fullca_CA
dc.type.versioninfo:eu-repo/semantics/submittedVersion


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