The welfare gains of trade integration in the European monetary union - HAL Accéder directement au contenu
Article dans une revue Macroeconomic Dynamics Année : 2010

The welfare gains of trade integration in the European monetary union

Résumé

This paper evaluates the welfare gains arising from deeper trade integration in the European Monetary Union. To do this, the European Monetary Union is represented in a realistic way by an intertemporal general equilibrium model with incomplete financial markets, sticky prices, and home bias in production. The model is estimated and not rejected by the data. Two main results emerge: (i) an increase in vertical trade (occuring at the early stage of the production process) implies welfare gains whereas (ii) an increase in horizontal trade (occuring at the late stage of the production process) implies welfare losses.
Loading...
Fichier non déposé

Dates et versions

halshs-00493915, version 1 (21-06-2010)

Identifiants

Citer

Stéphane Auray, Aurélien Eyquem, Jean-Christophe Poutineau. The welfare gains of trade integration in the European monetary union. Macroeconomic Dynamics, 2010, 14 (5), pp.645-676. ⟨10.1017/S1365100509090440⟩. ⟨halshs-00493915⟩
100 Consultations
0 Téléchargements
Dernière date de mise à jour le 20/04/2024
comment ces indicateurs sont-ils produits

Altmetric

Partager

Gmail Facebook Twitter LinkedIn Plus