quarta-feira, 19 de outubro de 2016

Efeitos da integração europeia

Why Do Estimates of the EMU Effect  On Trade Vary so Much?  Andrew K. Rose*

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Updated: September 27, 2016

Abstract  Larger data sets, with more countries and a longer span of time, exhibit systematically larger  effects of European monetary union on trade.  I establish this stylized fact with meta‐analysis  and confirm it by estimating a plain‐vanilla gravity model.  I then explain this finding by  examining systematic biases in “multilateral resistance to trade” manifest in time‐varying  country fixed effects; bias grows as the sample is truncated by dropping small poor countries.  
Keywords: gravity, exports, span, country, meta, common, currency, monetary, union, panel.

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