| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP2663
|
| DP2663 Good, Bad or Ugly? On the Effects of Fiscal Rules with Creative Accounting |
| [unavailable]
|
| 发表日期 | 2001-01-30
|
| 出版年 | 2001
|
| 语种 | 英语
|
| 摘要 | Gravity-based cross-sectional evidence indicates that currency unions stimulate trade; cross-sectional evidence indicates that trade stimulates output. This paper estimates the effect that currency union has, via trade, on output per capita. We use economic and geographic data for over 200 countries to quantify the implications of currency unions for trade and output, pursuing a two-stage approach. Our estimates at the first stage suggest that belonging to a currency union more than triples trade with the other members of the zone. Moreover, there is no evidence of trade-diversion. Our estimates at the second stage suggest that every one percent increase in trade (relative to GDP) raises income per capita by roughly 1/3 of a percent over twenty years. We combine the two estimates to quantify the effect of currency union on output. Our results support the hypothesis that the beneficial effects of currency unions on economic performance come through the promotion of trade, rather than through a commitment to non-inflationary monetary policy, or other macroeconomic influences. |
| 主题 | International Macroeconomics
|
| 关键词 | Dollarization
Growth
Cross-section
Empirical
Income
Common
Monetary
|
| URL | https://cepr.org/publications/dp2663
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531724
|
推荐引用方式
GB/T 7714 |
[unavailable]. DP2663 Good, Bad or Ugly? On the Effects of Fiscal Rules with Creative Accounting. 2001.
|
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