| 000 -LEADER |
|---|
| fixed length control field |
01214pab a2200193 454500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
|---|
| fixed length control field |
180718b2002 xxu||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Frankel, Jeffrey |
| 245 ## - TITLE STATEMENT |
|---|
| Title |
An estimate of the effect of common currencies on trade and income |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
|---|
| Date of publication, distribution, etc. |
2002 |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
p.437-66. |
| 362 ## - DATES OF PUBLICATION AND/OR SEQUENTIAL DESIGNATION |
|---|
| Dates of publication and/or sequential designation |
May |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc. |
To quantify the implications of common currencies for trade and income, we use data for over 200 countries and dependencies. In our two-stage approach, estimates at the first stage suggest that belonging to a currency union/board triples trade with other currency union members. Moreover, there is no evidence of trade diversion. Our estimates at the second stage suggest that every 1 percent increase in a country's overall trade (relative to GDP) raises income per capita by at least one-third of a percent. We combine the two estimates to quantify the effect of common currencies on output. Our results support the hypothesis that important beneficial effects of currency unions come through the promotion of trade. - Reproduced. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Income |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Trade |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Currencies |
| 700 ## - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Rose, Andrew |
| 773 ## - HOST ITEM ENTRY |
|---|
| Main entry heading |
Quarterly Journal of Economics |
| 909 ## - |
|---|
| -- |
52362 |
