Why Do Estimates of the Emu Effect on Trade Vary so Much?
27 Pages Posted: 26 Sep 2016 Last revised: 19 Jun 2023
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Why Do Estimates of the Emu Effect on Trade Vary so Much?
NBER Working Paper No. w22678
Number of pages: 27
Posted: 26 Sep 2016
Last Revised: 19 Jun 2023
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Why Do Estimates of the EMU Effect on Trade Vary so Much?
CEPR Discussion Paper No. DP11532
Number of pages: 29
Posted: 26 Sep 2016
Date Written: September 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.
Suggested Citation: Suggested Citation
Rose, Andrew Kenan and Rose, Andrew Kenan, Why Do Estimates of the Emu Effect on Trade Vary so Much? (September 2016). NBER Working Paper No. w22678, Available at SSRN: https://ssrn.com/abstract=2843411
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