Putting Currency Misalignment into Gravity: The Currency Union Effect Reconsidered

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dc.contributor.author Hogrefe, Jan de_DE
dc.contributor.author Jung, Benjamin de_DE
dc.contributor.author Kohler, Wilhelm de_DE
dc.date.accessioned 2012-04-02 de_DE
dc.date.accessioned 2014-03-18T10:03:56Z
dc.date.available 2012-04-02 de_DE
dc.date.available 2014-03-18T10:03:56Z
dc.date.issued 2012 de_DE
dc.identifier.other 362988021 de_DE
dc.identifier.uri http://nbn-resolving.de/urn:nbn:de:bsz:21-opus-61260 de_DE
dc.identifier.uri http://hdl.handle.net/10900/47928
dc.description.abstract Member countries of a currency union like the euro area have absorbed asymmetric shocks in ways that are inconsistent with a common nominal anchor. Based on a reformulation of the gravity model that allows for such bilateral misalignment, we disentangle the conventional microeconomic trade effect and macroeconomic trade effects deriving from bilateral misalignment within currency unions. Econometric estimation reveals that for the euro area the misalignment channel exerts a significant trade effect on bilateral exports. We retrieve country-specific estimates of the misalignment-induced effect on trade which demonstrate heterogeneous outlooks across countries for the costs and benefits from adopting the euro. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=de de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=en en
dc.subject.classification Euro <Währung> de_DE
dc.subject.ddc 330 de_DE
dc.subject.other Euro , Gravity model , Exchange rates , Trade imbalances en
dc.title Putting Currency Misalignment into Gravity: The Currency Union Effect Reconsidered en
dc.type ResearchPaper de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
dcterms.DCMIType Text de_DE
utue.publikation.typ workingPaper de_DE
utue.opus.id 6126 de_DE
utue.publikation.source University of Tübingen Working Papers in Economics and Finance ; 32 de_DE

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