The dynamic effects of a currency union on trade

被引：60

作者：

Bergin, Paul R. ^{[1
,2
]}

Lin, Ching-Yi ^{[3
]}

机构：

[1] Univ Calif Davis, Dept Econ, Davis, CA 95616 USA

[2] NBER, Cambridge, MA 02138 USA

[3] Natl Tsing Hua Univ, Dept Econ, Hsinchu 30013, Taiwan

来源：

JOURNAL OF INTERNATIONAL ECONOMICS | 2012年 / 87卷 / 02期

关键词：

Currency union; Extensive margin of trade; Trade costs; COMMON CURRENCIES; GRAVITY; MARKET; MONEY; COSTS;

D O I：

10.1016/j.jinteco.2012.01.005

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The response of trade to a monetary union is a dynamic process. An empirical study of the European monetary union finds that the extensive margin of trade in new goods responded several years ahead of EMU implementation and ahead of overall trade volume. A dynamic rational expectations trade model shows that early entry of new firms in anticipation is explainable as a rational forward-looking response to news. The model helps identify which types of trading frictions are reduced by a currency union, and shows how new entry can be affected by uncertainty about EMU. (C) 2012 Elsevier B.V. All rights reserved.

引用

页码：191 / 204

页数：14

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