Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/153028
Authors: 
Baldwin, Richard E.
Year of Publication: 
2006
Series/Report no.: 
ECB Working Paper 594
Abstract: 
This paper reviews reassesses the methodology and principal findings of the “Rose effect”, i.e. the trade effects of currency union, looking at both EMU and non-EMU currency unions. The consensus estimate suggests that the euro has already boosted intra-euro area trade by five to ten percent. The paper discusses a gamut of models that might explain the Rose effect in Europe and suggests a series of empirical test that could help identify the economic mechanisms involved.
Subjects: 
Exchange rate volatility
Gravity Model
monetary union
Rose effect
JEL: 
F12
C33
E0
Document Type: 
Working Paper

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