The Effect of Common Currencies on International Trade: A Meta-Analysis
نویسنده
چکیده
Nineteen recent studies have investigated the effect of currency union on trade, resulting in 383 point estimates of the effect. This paper is a quantitative attempt to summarize the current state of debate; meta-analysis is used to combine the disparate estimates. The chief findings are that: a) the hypothesis that there is no effect of currency union on trade can be rejected at standard significance levels; b) the combined estimate implies that currency union approximately doubles trade; and c) the estimates are heterogeneous and not consistently tied to features of the studies. JEL Classification Number: F34
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