Economics paper bleg

Anyone got access to the system where this paper might reside?

One of the most important pieces of research used by euro proponents was a paper from Andrew Rose showing that countries which joined currency unions tended to see their trade increase by up to 200pc. However, a paper published by Harvard\’s Jeffrey Frankel has shown that, in fact, trade within the eurozone increased by just 10-20pc during the first four years of the currency. Moreover, the volume of trade did not rise any further thereafter.

In the paper, published by the National Bureau for Economic Research, Prof Frankel says: "The most surprising finding of this study was the absence of any evidence that the effects of the euro on bilateral trade have continued to rise during the second half of the eight-year history of the euro."

Care to send me a copy?

2 comments on “Economics paper bleg

  1. Tim – don’t forget the transaction costs of running a theme park , say, in Tilburg like de Efteling, in the South of the Netherlands where you might be visted by Dutch, Belgians, French, Germans and Luxemburgers in the course of a day. In the pre-Euro days, the park had its own conversion rate for foreign currencies – a good earner for the camp but not so good for the visitors unless they had picked up some guilders in advance – including those heavy bank transaction fees. I suspect that if you had 2 kids, you would actually break even, post-Euro, after 2 or 3 visits – ie 2 or 3 visits for the price of one pre-Euro visit.

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