Research Papers:

Economic Integration & Geography

Economic Integration

The Regionalization of the World Economy   Recommended!
Frankel, J.A. (editor) (1998)

Abstract: Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs, have become increasingly prevalent in the world economy. Both pervasive and controversial, regionalization has some economists optimistic about the opportunities it creates and others fearful that it may corrupt fragile efforts to encourage global free trade. Including both empirical and theoretical studies, this volume addresses several important questions: Why do countries adopt FTAs and other regional trading arrangements? To what extent have existing regional arrangements actually affected patterns of trade? What are the welfare effects of such arrangements? Several chapters explore the economic effects of regional arrangements on patterns of trade, either on price differentials or via the gravity model on bilateral trade flows. In addition, this book examines the theoretical foundation of the gravity model. Making extensive use of the gravity model of bilateral trade, several chapters explore the economic effects of regional arrangements. In addition, this book examines the theoretical foundation of the gravity model.

The Economic and Monetary Union: Current and Future Prospects   Acrobat Required
Arestis, P. & M. Sawyer (1999)

Abstract: The euro was adopted as legal tender, albeit in a virtual form, by 11 countries of the European Union on January 1, 1999, with the intention that notes and coins denominated in euros would be introduced and the national currencies would be phased out during the first six months of that year and that the euro would be fully operational by 2002. This paper first reviews the current position of the EMU member states in relation to the convergence criteria under the Maastricht Treaty and finds that there must have been a considerable degree of "fudge" for the criteria to have been met. The paper next looks at the central role of aggregate demand in the EMU and at concerns about unemployment. It next examines the prospects of the current EMU arrangements, concluding that they are highly deflationary. To overcome the deflationary bias of current proposals and as a means to alleviate the serious unemployment problem, the authors recommend that the European Central Bank be enhanced by (1) the development of a new institution, the European Union Development Bank, and (2) a modification of the Stability and Growth Pact.

Fiscal Federalism and European Integration: Implications for Fiscal and Monetary Policies
Gramlich, E.M. & P.R. Wood (2000)

The Contested Meaning of Labour Market Flexibility: Economic Theory and the Discourse of European Integration   Acrobat Required!
Deakin, S. & H. Reed (2000)

Price Level Convergence in Europe   Acrobat Required
Rogers, J.H., G.C. Hufbauer & E. Wada (2001)

Fiscal Consolidation and the Probability Distribution of Deficits: A Stochastic Analysis of the Stability Pact   Acrobat Required
Hallett, A.J.H. & P. McAdam (2001)

Stabilization policy in a two country model and the role of financial frictions   Acrobat Required
Faia, E. (2001)

Trade Integration and Risk Sharing   Acrobat Required
Kraay, A. & J. Ventura (2001)

Tax Harmonization versus Tax Competition in Europe: A Game Theoretical Approach   Acrobat Required
Fourcans, A. & T. Warin (2001)

How Accession to the European Union Has Affected External Trade and Foreign Direct Investment in Central European Economies   Acrobat Required
Kaminski, B. (2001)

A Macroeconomic Experiment in Mass Immigration
Hercowitz, Z. & E. Yashiv (2001)

The width of the intra-european economic borders
de Serres, A., P. Hoeller & C. de la Maisonneuve (2001)

Abstract: This paper first provides a brief overview of the literature on market segmentation and then presents an empirical exercise that sheds more light on the significance of border effects across European countries. The literature suggests that integration in the EU goods and financial markets is typically more advanced than among the other OECD countries. On the other hand, integration in Europe remains significantly lower than that observed between regions within countries. The empirical exercise is based on a set of comparable price data of tradeable goods collected just before the launch of the single currency. The paper finds that for a given distance, crossing national borders adds significantly to the price differential across European cities. However, this border effect is substantially smaller than the one found in previous estimates focusing on European and North American cities, which were based on the comparison of much broader price indices such as the consumer price index.

Economic Integration and Monetary Union   Acrobat Required   REVIEW PAPER
Coleman, A. (2001)

Real Convergence to EU Income Levels: Central Europe from 1990 to the Long Term
Doyle, P., L. Kuijs & G. Jiang (2001)

On the eve of EU enlargement   Acrobat Required
Welteke, E. October 2001

The Dynamic Impact on the Central-East European Economies of Accession to the European Union   Acrobat Required
Dyker, D.A. (2001)

Globalisation, European Integration and the Persistence of European Social Models   Acrobat Required
Hay, C., M. Watson & D. Wincott (2001)

Fiscal Federalism, EMU and Shock Absorption Mechanisms: A Guide to the Literature   REVIEW PAPER
Pacheco, L.M. (2001)

European Labour Markets and the Euro: How Much Flexibility Do We Really Need?
Burda, M.C. (2001)

The Art of Making Everybody Happy: How to Prevent a Secession
Le Breton, M. & S. Weber (2001)

What Does the European Union Do?
Alesina, A., I. Angeloni & L. Schuknecht (2001)

The Influence of Capital Market Integration on Production and Market Structures   Acrobat Required
Koop, M.J. (2001)

Instability and non-linearity in the EMU   Acrobat Required!
Marcellino, M. (2001)

Growth and Convergence in a Two-Region Model: The Hypothetical Case of Korean Unification
Funke, M. & H. Strulik (2002)

Wages and wage-bargaining institutions in the EMU ­ a survey of the issues   REVIEW PAPER   Acrobat Required
Calmfors, L. (2002)

How mobile is capital within the European Union?   Acrobat Required!
Gorter, J. & A. Parikh (2002)

EU Regional and Cohesion Policy and Economic Integration of the Accession Countries   Acrobat Required!
Bergs, R. (2002)

The ECB and Euro-Area Enlargement
Berger, H. (2002)

Trade Costs, Market Integration, and Macroeconomic Volatility
Brunner, A. & K. Naknoi (2003)

Arab Economic Integration: Between Hope and Reality   CONFERENCE VOLUME
Galal, A. & B. Hoekman (Editors) (2003)

Bayesian VARs: A Survey of the Recent Literature with an Application to the European Monetary System
Ciccarelli, M. & A. Rebucci (2003)

Regional Integration in East Asia: Challenges and Opportunities--Part I: History and Institutions   Recommended!
Sakakibara, E. & S. Yamakawa (2003)

Abstract: Over the past decade, regional integration has become the focus of intense global interest and debate, and the regionalization of East Asia has figured prominently in that dialogue. East Asia can be described as a heterogeneous region that is both global and intraregional. Sakakibara and Yamakawa examine the motivating factors and underlying dynamics of the progression toward closer cooperation in the region beginning from a historical perspective, which sets the stage for an evaluation of the form that regional cooperation might take so as not to sacrifice the benefits of the region’s already achieved openness. This examination includes a review of the lingering effects of the 1997–98 Asian crisis, the expanding role of China in the region, the prolonged slump in Japan’s economy, and the evolution of regional institutions such as the Asia-Pacific Economic cooperation and the Association of Southeast Asian Nations, among others. The authors focus on trade, direct investment, and the financial and monetary aspects of regional cooperation. In their analysis, they compare other regions, particularly the European Union and the North American Free Trade Agreement. Finally, the authors suggest cooperative steps the region might take over the next decade to promote the growth and stability of its member economies. In this regard, they look at the future role of regional institutions, the prospects for a regional role in promoting trade and foreign direct investment, and the possibilities for financial and monetary cooperation.

Regional Integration in East Asia: Challenges and Opportunities--Part II: Trade, Finance, and Integration   Recommended!
Sakakibara, E. & S. Yamakawa (2003)

Abstract: Sakakibara and Yamakawa analyze the patterns of East Asia’s trade and foreign direct investment (FDI) from a global and intraregional perspective, taking into account the importance of trade and FDI interlinkages. They propose two regionally-focused approaches to promoting trade and FDI in East Asia—regional agreements and regional production networks. The East Asia crisis strengthened appeals for regional cooperation in the financial area. As a result, a number of financial arrangements and initiatives have emerged since the crisis, the most prominent of these, the Chiang Mai Initiative. (The Association of Southeast Asian Nations plus China, the Republic of Korea, and Japan decided at their meeting in Chiang Mai, Thailand, in May 2000, to establish a regional network of swap arrangements.) While opening of the capital account is considered desirable in the long run, it is associated with considerable risk, particularly if macroeconomic policies are not sound and financial supervision and regulation is weak. Because of the potential volatility associated with floating regimes and the desire to avoid another crisis in the region, the authors discuss a number of options.

On the Hidden Links Between Financial and Trade Opening | Published   ScienceDirect Required
Aizenman, J. (2003/08)

The Chinese Economies in Global Context: The Integration Process and Its Determinants
Cheung, Y-W., M.D. Chinn, E. Fujii (2003)

Nominal Exchange Rate Regimes and Relative Price Dispersion: On the Importance of Nominal Exchange Rate Volatility for the Width of the Border
Beck, G.W. (2003)

Net Foreign Assets And Imperfect Financial Integration: An Empirical Approach   Adobe Acrobat Required
Selaive, J. & V. Tuesta (2003)

Market Integration and Economic Development: A Long-run Comparison | Alternative
Keller, W. & C.H. Shiue (2004)

Recent Trends in Border Economics   Acrobat Required
Fullerton, T.M., Jr (2003)

Measuring Market Integration: Foreign Exchange Arbitrage and the Gold Standard, 1879-1913
Canjels, E., G. Prakash-Canjels & A.M. Taylor (2004)

Financial Integration: A New Methodology and an Illustration
Flood, R.P. & A.K. Rose (2004)

Regional spillovers, economic growth, and the effects of economic integration   ScienceDirect Required
Holod, D. & R.R. Reed, III (2004)

On the Weights of Nations: Assigning Voting Weights in a Heterogeneous Union   Acrobat Required
Barbera, S. & M.O. Jackson (2004)

A Constitution for the European Union Recommended!
Blankart, C.B. & D.C. Mueller (editors) (2004)

Abstract: International economists and other scholars address the major issues that arise in writing a European constitution, including the evolution of federalism and the role of direct democracy.

Managing European Union Enlargement Recommended!
Berger, H. & T. Moutos (editors) (2004)

Abstract: In May 2004 the European Union will undergo the largest expansion in its history when ten countries--Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia--become members. The number of new members and their diversity make this "big bang" enlargement particularly challenging. Not only do these countries vary widely in language, culture, and geography, but also their per capita income is less than half that of existing members. EU officials believe that expanded integration will serve the EU's objectives of peace, stability, prosperity, and democracy; but the less abstract questions of costs and benefits of enlargement are more complex. Each of the chapters in this CESifo volume addresses a different aspect of EU expansion. The contributors, all leading international practitioners and scholars, consider such topics as the effect of euro zone expansion on European Central Bank monetary policy making; using the euro as an external anchor for a national currency; worker migration and income differentials; the Swiss experience with immigration policy in a direct democracy framework; detailed sector analysis using a computable general equilibrium model of the world economy; investment and job creation and destruction in incumbent member countries; and the asymmetric effects of enlargement on high- and low-income incumbent countries. Taken together, the chapters provide useful guidance in shaping the EU policies of the future.

EU Enlargement, Migration and the New Constitution
Sinn, H-W. (2004)

Economic integration and privatisation under diseconomies of scale   ScienceDirect Required
Barcena-Ruiz, J.C. & G.M. Begona (2005)

Determinants of Union Membership in 18 EU Countries: Evidence from Micro Data, 2002/03
Schnabel, C. & J. Wagner (2005)

On the gains from international financial integration   ScienceDirect Required
Wright, M.L.J. (2005)

Tradability, Productivity, and Understanding International Economic Integration | Published   ScienceDirect Required
Bergin, P.R. & R. Glick (2005/07)

Borders and Growth
Wacziarg, R.T. & E. Spolaore (2005)

What Does European Institutional Integration Tell Us About Trade Integration?   Acrobat Required
Mongelli, F.P., E. Dorrucci & I. Agur (2005)

The real effects of financial integration   ScienceDirect Required
Imbs, J. (2006)

The 'Sense and Nonsense of Maastricht' Revisited: What Have We Learnt About Stabilization In EMU?
Buiter, W. (2006)

Economic Integration and Similarity in Trade Structures
Tajoli, L. & L. de Benedictis (2006)

Macroeconomic and Financial Stability Challenges for Acceding and Candidate Countries   Acrobat Required
Winkler, A. & R. Beck (2006)

Cartel Stability and Economic Integration   Wiley Interscience Required
Schröder, P.J.H. (2007)

Countries, regions and trade: On the welfare impacts of economic integration   ScienceDirect Required
Behrens, K., C. Gaigné, G.I.P. Ottaviano & J-F. Thisse (2007)

European integration, productivity growth and real convergence   ScienceDirect Required
Kutan, A.M. & T.M. Yigit (2007)

Is there really a “border effect”?   ScienceDirect Required
Mahbub Morshed, A.K.M. (2007)

Sustaining Collusion under Economic Integration   Wiley Interscience Required
Colombo, L. & P. Labrecciosa (2007)

Tariffs, Trains, and Trade: The Role of Institutions versus Technology in the Expansion of Markets
Keller, W. & C.H. Shiue (2008)

The Economic Impact of European Integration
Boltho, A. & B. Eichengreen (2008)

Financial Integration and Risk-Adjusted Growth Opportunities
De Nicoló, G. & I.V. Ivaschenko (2008)

How Big are the Gains from International Financial Integration?
Hoxha, I., S. Kalemli-Ozcan & D. Vollrath (2008)

Thresholds in the Process of International Financial Integration | Published   ScienceDirect Required
Kose, M.A., E.S. Prasad & A.D. Taylor (2009/11)

Global market integration: An alternative measure and its application   ScienceDirect Required
Pukthuanthong, K. & R. Roll (2009)

The dark side of global integration: Increasing tail dependence   ScienceDirect Required
Beine, M., A. Cosma & R. Vermeulen (2009)

European stock market integration: Fact or fiction?   ScienceDirect Required
Bley, J. (2009)

EMU, EU, capital market integration and consumption smoothing
Christev, A. & J. Mélitz (2010)

Deep Financial Integration and Volatility
Kalemli-Ozcan, S., B.E. Sorensen & V. Volosovych (2010)

Whence Policy? Government Policies, Finance, and Economic Integration
Bertola, G. & A.L. Prete (2010)

Currency Unions in Prospect and Retrospect
Santos Silva, J.M.C. & S. Tenreyro (2010)

Dynamic European stock market convergence: Evidence from rolling cointegration analysis in the first euro-decade   ScienceDirect Required
Mylonidis, N. & C. Kollias (2010)

(Inter-state) Banking and (Inter-state) Trade: Does Real Integration Follow Financial Integration? | Published   ScienceDirect Required
Michalski, T. & E. Örs (2010/12)

How strong is the global integration of emerging market regions? An empirical assessment   ScienceDirect Required
Guesmi, K. & D.K. Nguyen (2011)

Determinants of European stock market integration   ScienceDirect Required
Büttner, D. & B. Hayo (2011)

Financial Distortions and the Distribution of Global Volatility
Eden, M. (2012)

Optimal fiscal barriers to international economic integration in the presence of tax havens   ScienceDirect Required
Johannesen, N. (2012)

Multiple equilibria in the dynamics of financial globalization: The role of institutions   ScienceDirect Required
Van Campenhout, B. & D.Cassimon (2012)

Integration of 22 emerging stock markets: A three-dimensional analysis   ScienceDirect Required
Graham, M., J. Kiviaho & J. Nikkinen (2012)

Comparative Advantage and the Welfare Impact of European Integration
Levchenko, A.A. & J. Zhang (2012)

Fiscal Unions
Werning, I. & E. Farhi (2012)

How Big are the Gains from International Financial Integration?   ScienceDirect Required
Hoxha, I., S. Kalemli-Ozcan & D. Vollrath (2013)

Stock and Foreign Exchange Market Linkages in Emerging Economies   ScienceDirect Required
Andreou, E., M. Matsi & A. Savvides (2013)

Macro Fiscal Policy in Economic Unions: States as Agents
Carlino, G. & R.P. Inman (2013)

The Optimal Design of a Fiscal Union   Acrobat Required
Hoddenbagh, J. & M. Dmitriev (2013)

A Volatility-based Theory of Fiscal Union Desirability   ScienceDirect Required
Luque, J., M. Morelli & J. Tavares (2014)

Economic integration and the optimal corporate tax structure with heterogeneous firms   ScienceDirect Required
Bauer, C., R.B. Davies & A. Haufler (2014)

Journey into the Unknown? Economic Consequences of Factor Market Integration under Increasing Returns to Scale   Wiley Interscience Required
Schafer, A. & T. Steger (2014)

Does Aid-for-Trade from the North Promote South-South Trade?   Acrobat Required
Hühne, P., B. Meyer & P. Nunnenkamp (2014)

Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
Mendoza, E.G., L.L. Tesar & J. Zhang (2014)

How Close is Asia to Already Being A Trade Bloc?
Li, C. & J. Whalley (2014)

Natural Resources, Decentralization, and Risk Sharing: Can resource booms unify nations?   Acrobat Required
Perez-Sebastian, F. & O. Raveh (2014)

On the Individual Optimality of Economic Integration | Published   Acrobat Required   ScienceDirect Required
Castro, R. & N. Koumtingue (2014)

Financial integration, housing, and economic volatility   ScienceDirect Required
Loutskina, E. & P.E. Strahan (2014)

Historical trade integration: Globalization and the distance puzzle in the long 20th century   Acrobat Required
Standaert, S., S. Ronsse & B. Vandermarliere (2014)

Banking Union Optimal Design under Moral Hazard   Acrobat Required
Zoican, M.A. & L.A. Gornicka (2014)

Evaluating international financial integration in a center-periphery economy   ScienceDirect Required
Yu, C. (2015)

Banking union as a shock absorber   Acrobat Required
Belke, A. & D. Gros (2015)

How firms use corporate bond markets under financial globalization   ScienceDirect Required
Gozzi, J.C., R. Levine, M.S. Martinez Peria & S.L. Schmukler (2015)

Trilemmas and trade-offs: living with financial globalisation
Obstfeld, M. (2015)

Trade, Factor Mobility and the Extent of Economic Integration: Theory and Evidence   Acrobat Required
Mikolajun, I. & J-M. Viaene (2015)

Migration State and Welfare State: Competition vs. Coordination in an Economic Union
Razin, A. & E. Sadka (2015)

A Coasian Model of International Production Chains
Fally, T. & R. Hillberry (2015)

Waves of international banking integration: A tale of regional differences   ScienceDirect Required
Bouvatier, V. & A-L. Delatte (2015)

Supervisory Incentives in a Banking Union
Carletti, E., G. Dell'Ariccia & R. Marquez (2016)

Modelling the long-run economic impact of leaving the European Union   ScienceDirect Required
Ebell, M., I. Hurst & J. Warren (2016)

Less is more: Testing financial integration using identification-robust asset pricing models   ScienceDirect Required
Beaulieu, M-C., M-H. Gagnon & L. Khalaf (2016)

Capital market integration and consumption risk sharing over the long run   ScienceDirect Required
Rangvid, J., P. Santa-Clara & M. Schmeling (2016)

On the implications of introducing cross-border loss-offset in the European Union   ScienceDirect Required
Kalamov, Z.Y. & M. Runkel (2016)

European Economic Integration and Comparative Advantages   Wiley Interscience Required   SURVEY PAPER
Boglioni, M. & S. Zambelli (2016)

Openness, Specialization, and the External Vulnerability of Developing Countries
Barrot, L.D., C. Calderón & L. Servén (2016)

Surprised or not surprised? The investors' reaction to the comprehensive assessment preceding the launch of the banking union   ScienceDirect Required
Carboni, M., F. Fiordelisi, O. Ricci & F.S. Stentella Lopes (2016)

Market Integration as a Mechanism of Growth   Acrobat Required
Keller, W. & C.H. Shiue (2016)

How Large Are the Gains from Economic Integration? Theory and Evidence from U.S. Agriculture, 1880-1997
Costinot, A. & D. Donaldson (2016)

Demand and Distribution in Integrated Economies   Acrobat Required
Rezai, A. (2016)

Short-Run Pain, Long-Run Gain: The Conditional Welfare Gains from International Financial Integration   Acrobat Required
Boucekkine, R., G. Fabbri & P.A. Pintus (2016)

Open Borders in the European Union and Beyond: Migration Flows and Labor Market Implications
Kennan, J. (2017)

On the Global Financial Market Integration "Swoosh" and the Trilemma
Bekaert, G. & A. Mehl (2017)

The migration of professionals within the EU: Any barriers left?   Wiley Interscience Required
Capuano, S. & S. Migali (2017)

The Euro and the Battle of Ideas   Acrobat Required
Brunnermeier, M., H. James & J-P. Landau (2017)

The Impact of Brexit on Foreign Investment and Production   Acrobat Required
McGrattan, E.R. & A.L. Waddle (2017)

Growth and convergence in South-South integration areas: An empirical analysis   Wiley Interscience Required
Sperlich, S. & Y. Sperlich (2017)

The real effects of financial (dis)integration: A multi-country equilibrium analysis of Europe   ScienceDirect Required
Chakraborty, I., R. Hai, H.A. Holter & S. Stepanchuk (2017)

The Impact of Brexit on Foreign Investment and Production
McGrattan, E.R. & A. Waddle (2017)

Financial Markets and Fiscal Unions
Kehoe, P.J. & E. Pastorino (2017)

Fiscal Unions Redux   Acrobat Required
Kehoe, P.J. (2017)

International Financial Integration in the Aftermath of the Global Financial Crisis
Lane, P.R. & G.M. Milesi-Ferretti (2017)

Detecting capital market convergence clubs   De Gruyter Journals Required
Beylunioglu, F.C. , T. Stengos & M.E. Yazgan (2017)

A Note on Risk Sharing versus Instability in International Financial Integration: When Obstfeld Meets Stiglitz   Acrobat Required
Boucekkine, R. & B. Zou (2017)

Financial Globalization: A Glass Half Empty?
Abraham, F. & S.L. Schmukler (2017)

The costs and benefits of leaving the EU: trade effects   Oxford Journals Required
Dhingra, S., H. Huang, G. Ottaviano, J.P. Pessoa & T. Sampson (2017)

The winners and losers of tax reform: An assessment under financial integration   ScienceDirect Required
Kabukçuoglu, A. (2017)

Border Effects Without Borders: What Divides Japan's Internal Trade?   Wiley Interscience Required
Wrona, J. (2018)

The Global Banking Network: What is Behind the Increasing Regionalization Trend?
Cerutti, E.M. & H. Zhou (2018)

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Monetary Integration

A Theory of Optimum Currency Areas   Recommended!   JSTOR Required
Mundell, R. (1961)

Abstract: While it is obvious that periodic balance-of-payments crises will remain an integral feature of the international economic system as long as fixed exchange rates and rigid wage and price levels prevent the terms of trade from fulfilling a natural role in the adjustment process, the present paper cautions against the practicability of a system of national currencies connected by flexible exchange rates. In so doing, it presents a theory of optimum currency areas.

Optimum Currency Areas   Recommended!   JSTOR Required
McKinnon, R. (1963)

Abstract: This paper presents a simple model of a single currency area, and analyzes whether such an area should maintain flexible rates with the outside world. It finds that when we move across the spectrum from closed to open economies, flexible exchange rates become both less effective as a control device for external balance and more damaging to internal price-level stability.

Is there a Currency Bloc in the Pacific?   Acrobat Required
Frankel, J.A. (1999)

Whither EMU? Revisiting the EMU One Year On   Acrobat Required
Lim, J.J. (2000)

Toward a Common Currency?   Acrobat Required
Cooper, R. (2000)

One Money, One Market: Estimating the Effect of Common Currencies on Trade   Acrobat Required
Rose, A. (2001)

Currency Unions & International Integration
Rose, A.K. & C. Engel (2000)

Coordination of Fiscal Policies in a Monetary Union
Díaz-Roldán, C. (2000)

Insurance Mechanisms Against Asymmetric Shocks in a Monetary Union: A Proposal with an Application to EMU
Bajo-Rubio, O. & C. Díaz-Roldán (2000)

The Convergence of Automobile Prices in the European Union: an Empirical Analysis for the Period 1993-1999   Acrobat Required
Gaulier, G. & S. Haller (2000)

Abstract: Over the last decade, the EC automobile market has been the scene of significant price differentials for the same vehicle across the member states. The move towards a more integrated internal market, since January 1993, obviously calls for more up-to-date empirical information. We provide an analysis of price convergence over the period 1993-1999 for EU countries. Car characteristics were collected to build aggregate prices for countries thanks to a quasi-hedonic econometric model. Price dynamic is analyzed through Sigma and Beta convergence. We found that Sigma convergence is impeded by exchange rates fluctuations, while there is a strong force driving Beta convergence. The Euro should then favor convergence.

Financial Stability in the Euro Area - Some Lessons from US Financial History
Davis, E.P. (2000)

EMU and Enlargement: A Review of Policy Issues   REVIEW PAPER   Acrobat Required
de Souza, L.V., H. van Eden, A. de Groot, G. Romijn (NEI) & E. Ledrut (2001)

Abstract: This report is the final output of the study "Economic and Monetary Union and Enlargement" commissioned by the Directorate-General for Research of the European Parliament in May 1999. An Interim Report was provided in September 1999. The report reviews the mains policy issues concerning the accession of 10 Central and Eastern European Countries, and Cyprus and Malta, and the interaction with their parallel integration into the Economic and Monetary Union.

Will The Euro Bring Economic Crisis to Europe? | Alternative   Acrobat Required
Arestis, P. & M. Sawyer

Abstract: It has been argued that the eurozone will face considerable economic difficulties. These will take a number of forms, two of which could qualify as "crises." First, the euro was launched at a time when unemployment levels were high (10 percent of the workforce) and disparities in the experience of unemployment and standards of living were particularly severe. These high levels of unemployment are likely to continue in the foreseeable future, and the policy arrangements that surround the operation of the euro, notably the objectives of the European Central Bank and the workings of the Stability and Growth Pact, will have a deflationary bias. These levels of and disparities in unemployment could be termed a crisis. Second, the introduction of the euro and the associated institutional setting could well serve to exacerbate tendencies toward financial crisis, including the volatility and subsequent collapse of asset prices and runs on the banking system. Some additional forces of instability may arise from the current trade imbalances and the relationship between the dollar and the euro as two major global currencies. Further, the operating arrangements of the European System of Central Banks can be seen as inadequate to cope with such financial crises.

The Future of the Euro: Is There an Alternative to the Stability and Growth Pact?   Acrobat Required
Arestis, P., K. McCauley & M. Sawyer (2001)

Making EMU Work: Some Lessons from the 1990s
Bibow, J. (2001)

Financial market integration in Europe : on the effects of EMU on stock markets   Acrobat Required
Fratzscher, M. (2001)

Two years into the Euro: The Next Step for Europe   Acrobat Required
Colligon, S. (2001)

Abstract: European Monetary Union (EMU) has been good for Europe. Two years after it started, the economy of Euroland is in better shape with economic growth at 3.5 percent in 2000, the highest in over a decade, unemployment down, and price stability assured. However, contrary to previous expectations, the exchange rate has depreciated from its initial high level and although it recently seems to have turned around, public opinion often remains sceptical. Ultimately, this gap between reality and perception needs to be closed, if European integration and therefore EMU is to be sustained. In this paper, I will first review the economic arguments that led to the creation of the EMU and match them against the results. I will then analyse policy making in Euroland and put forward some recommendations for improvement.

Partisanship and fiscal policy co-ordination in a monetary union   Acrobat Required
Acocella, N. & G. Di Bartolomeo (2001)

Does a Currency Union Affect Trade? The Time Series Evidence
Glick, R. & A.K. Rose (2001)

The Impact of the EMU on the Structure of European Equity Returns - An Empirical Analysis of the First 21 Months
Kraus, T. (2001)

The Lucas Critique in Practice: An Empirical Investigation of the Impact of European Monetary Integration on the Term Structure   Acrobat Required
Van Bergeijk, P.A.G. & J.M. Berk (2001)

Abstract: An empirical investigation of the term structure (the relation of the long interest rate to the short interest rate) showed structural change as the deadline for the euro became closer. Our empirical analysis of the term structures (yield curves) in 12 OECD countries uncovers that econometrically estimated behavioural equations for most EMU countries were stable even in the light of the creation of the euro. This finding would seem to defy the Lucas Critique. However, the significant structural instability found for the euro area's core country Germany suggests that the Lucas Critique is relevant in the analysis of the impact of the creation (and future extensions) of EMU.

Currency Unions and Trade: How Large is the Treatment Effect?
Persson, T. (2001)

Reserve Pooling in the Eastern Caribbean Currency Union and the CFA Franc Zone: A Comparative Analysis
Williams, O., T. Polius & S. Hazel (2001)

A Statistical Analysis of Banking Performance in the Caribbean Currency Union in the 1990s
Juan-Ramon, V.H., R.E. Randall & O. Williams (2001)

Monetary Policy Under EMU: Differences in the Transition Mechanism?
Clements, B.J., Z.G. Kontolemis & J.V. Levy (2001)

Limiting Currency Volatility to Stimulate Goods Market Integration: A Price Based Approach
Parsley, D.C. & S.J. Wei (2001)

Geography, Trade and Currency Union
Mélitz, J. (2001)

Can Countries under A Common Currency Conduct Their Own Fiscal Policies?   Acrobat Required
Izurieta, A. (2001)

Portfolio Diversification : Alive and well in Euroland!   Acrobat Required
Adjaoute, K. & K.P. Danthine (2001)

The Bank, the States, and the Market: An Austro-Hungarian Tale for Euroland, 1867-1914   Acrobat Required
Flandreau, M. (2001)

Abstract: In 1867, the "Compromise" between Austria and Hungary laid the foundation of a single currency system with a common central bank. As in today’s euroland, each part of the monarchy remained sovereign in fiscal matters. Moreover, the borrowing needs of both parts of the monarchy were quite large, since Austria and Hungary sought to promote their own economic development through government spending. Yet no ‘fiscal stability pact’ existed: the two countries could run deficits to the extent of the public's willingness to lend to them. They were thus only subjected to the discipline of the capital market. This paper documents the record of the Austro-Hungarian monetary union and shows how this discipline led to a process of increased power of the central bank.

Monetary stabilisation policy in a monetary union: some simple analytics   Acrobat Required
Brigden, A. & C. Nolan (2001)

The Costs and Benefits of Euro-sation in Central-Eastern Europe Before or Instead of EMU Membership   Acrobat Required
Nuti, D.M. (2001)

Independent and Accountable Central Banks and the European Central Bank
de Sousa, P.A.B. (2001)

To Euro or Not to Euro?
Risse, T. (2001)

The ECB Monetary Policy Strategy and the Money Market   Acrobat Required
Gaspar, V., G. Perez-Quiros & J. Sicilia (2001)

Limiting Currency Volatility to Stimulate Goods Market Integration: A Price-Based Approach
Parsley, D. & S.J. Wei (2001)

Monetary Unification and the Price of Risk: An Unconditional Analysis   Acrobat Required
Dewachter, H., K. Smedts & K. Maes (2001)

Interbank Market Integration under Asymmetric Information   Acrobat Required
Freixas, X., & C. Holthausen (2001)

The Impact of the EMU on the Structure of European Equity Returns - An Empirical Analysis of the First 21 Months   Acrobat Required
Kraus, T. (2001)

EMU and the Stability and Volatility of Foreign Exchange: Some Empirical Evidence   Acrobat Required   Winzip Required
Bask, M., X. de Luna (2001)

Is Fiscal Policy Coordination in EMU Desirable?   Acrobat Required
Beetsma, R., X. Debrun & F. Klaassen (2001)

Assessing the Advantages of EMU-Enlargement for the EU and the Accession Countries: A Comparative Indicator Approach   Acrobat Required
Schweickert, R. (2001)

The Endogeneity of the Optimum Currency Area Criteria, Intraindustry Trade, and EMU Enlargement   Acrobat Required
Fidrmuc, J. (2001)

Financial Market Integration in a Monetary Union   Acrobat Required
Buch, C.M. (2001)

Can Countries under A Common Currency Conduct Their Own Fiscal Policies?
Izurieta, A. (2001)

The Euro: A Success Against the Odds   Acrobat Required
Begg, I. (2001)

Self-Validating Optimum Currency Areas
Corsetti, G. & P. Pesenti (2002)

The Cost of Heterogeneity in a Monetary Union   Acrobat Required
Hughes Hallett, A. & D.N. Weymark (2002)

Monetary and Fiscal Policy Dynamics in an Asymmetric Monetary Union | Published   Acrobat Required   ScienceDirect Required
Clausen, V. & H.W. Wohltmann (2002)

The policy mix in a monetary union under alternative policy institutions and asymmetries   Acrobat Required
Gagnol, L. & M. Sidiropoulos (2002)

Is the United States an optimum currency area? An empirical analysis of regional business cycles   Acrobat Required
Kouparitsas, M.A. (2002)

Dollarization and monetary unions: implementation guidelines   Acrobat Required
Gruben, W.C., M.A.Wynne & C.E.J.M. Zarazaga (2002)

The Forex Regime and EMU Expansion   Acrobat Required
van Foreest, P.W. & C.G. de Vries (2002)

Abstract: This paper provides empirical evidence that, irrespective of the foreign exchange rate regime, countries with high monetary volatility have lower relative output growth rates. It is argued that due to the forward looking nature of the foreign exchange market, exchange rate stability hinges on the stability of the institutional structure within which monetary and fiscal policies are formulated. Subsequently, the likely endogenous response in the accession countries upon entry into EU and EMU is examined. This provides arguments for a rapid transition phase, possibly complemented by a one sided euroisation as a commitment device.

The Forex Regime and EMU Expansion   Acrobat Required!
van Foreest, P.W. & C.G. de Vries (2002)

Price Dynamics in Central and Eastern European EU Accession Countries   Acrobat Required!
Backé, P., J. Fidrmuc, T. Reininger& F. Schardax (2002)

Exchange-Rate and Interest-Rate Driven Competitive Advantages in the EMU   Acrobat Required!
Niclas, A. & L. Oxelheim (2002)

Currency Unions and International Integration: Evidence from the CFA and the ECCU   Acrobat Required!
Fielding, D. & K. Shields (2002)

One money, but many fiscal policies in Europe : what are the consequences?   Acrobat Required!
Uhlig, H. (2002)

Real and Monetary Convergence within the European Union and Between the European Union and Candidate Countries: A Rolling Cointegration Approach
Brada, J.C., A.M. Kutan & S. Zhou (2002)

Towards Regional Currency Areas   CONFERENCE VOLUME
CEPII (2002)

Regional Price Adjustment in a Monetary Union the Case of EMU Adobe Acrobat Required
Berk, J.M. & J. Swank (2002)

Compatibility Between Monetary and Fiscal Policy Under EMU   Adobe Acrobat Required!
Leith, C. & S. Wren-Lewis (2002)

Views on the Optimum Currency Area Theory: What is EMU Telling US?   Adobe Acrobat Required!
Mongelli, F.P. (2002)

Monetary Union: European Lessons, Latin American Prospects   Adobe Acrobat Required!
Hochreiter, E., K. Schmidt-Hebbel & G. Winckler (2002)

The Federal Design of a Central Bank in a Monetary Union: The Case of the European System of Central Banks   Adobe Acrobat Required!
Eijffinger, S.C.W. (2002)

Time inconsistency and free-riding in a monetary union   Adobe Acrobat Required!
Chari, V. V. & P.J. Kehoe (2002)

Nominal Wage Flexibility in a Monetary Union   Adobe Acrobat Required
Erlandsson, M. (2002)

Time Consistency and Free-Riding in a Monetary Union
Chari, V.V. & P.J. Kehoe (2002)

Monetary Integration in the Southern Cone: Mercosur Is Not Like the EU?
Belke, A. & D. Gros (2002)

Reflections on the Optimal Currency Area (OCA) criteria in the light of EMU   Acrobat Required
Artis, M.J. (2002)

The Euro Is Good After All: Corporate Evidence   Acrobat Required
Bris, A., Y. Koskinen & M. Nilsson (2002)

Monetary policy and the financial acclerator in a monetary union   Acrobat Required
Gilchrist, S., J. Hairault & H. Kempf (2002)

Price Convergence under EMU? First Estimates Adobe Acrobat Required
Lutz, M. (2002)

Economic Effects of Currency Unions
Tenreyro, S. & R.J. Barro (2003)

Monetary Union in West Africa: Who Might Gain, Who Might Lose, and Why?
Debrun, X., P. Masson & C. Pattillo (2003)

A Currency Union for the Caribbean
Worrell, D. (2003)

Trade Effects of Monetary Integration in Large, Mature Economies: A Primer on the European Monetary Union   Adobe Acrobat Required
de Souza, L.V. (2003)

Regional inflation in a currency union: fiscal policy vs. fundamentals | Published   ScienceDirect Required   Adobe Acrobat Required
Duarte, M. & A.L. Wolman (2003/08)

Asymmetric Information and Monetary Policy in Common Currency Areas Adobe Acrobat Required
Bottazzi, L. & P. Manasse (2003)

Towards a Single Retail Banking Market? New Evidence from Euroland   Adobe Acrobat Required
Kleimeier, S. & H. Sander (2003)

Electonic Money and the Optimal Size of Monetary Unions Adobe Acrobat Required
Storti, C., & P. De Grauwe (2003)

Monetary and Fiscal Policy Interactions in a Micro-Founded Model of a Monetary Union | Published   Acrobat Required   ScienceDirect Required
Beetsma, R. & H. Jensen (2003/2005)

Common Currencies versus Monetary Independence   Acrobat Required
Cooley, T.F. & V. Quadrini (2003)

Currency Unions and Trade: Variations on Themes by Rose and Persson   Acrobat Required
Kenen, P. (2003)

EU Enlargement and Beyond: A Simulation Study on EU and CIS Integration   Acrobat Required
Sulamaa, P. & M. Widgrén (2003)

Patching up the Pact: some Suggestions for Enhancing Fiscal Sustainability and Macroeconomic Stability in an Enlarged European Union   Acrobat Required
Buiter, W.H. & C. Grafe (2003)

Asian Monetary Integration: A Structural VAR Approach   Acrobat Required
Zhang, Z., K. Sato & M. McAleer (2003)

The Impact of the Euro on Trade: The (Early) Effect is Not So Large   Acrobat Required
De Nardis, S. & C. Vicarelli (2003)

Prospects for an Asian currency area   ScienceDirect Required
Mundell, R. (2003)

Symbiosis of monetary and fiscal policies in a monetary union   ScienceDirect Required
Dixit, A. & L. Lambertini (2003)

Monetary Union and the Interest-Exchange Rate Trade-off   Acrobat Required
Bohn, F. (2003)

Monetary Union, Entry Conditions and Economic Reform   Acrobat Required
Ozkan, F.G., A. Sibert & A. Sutherland (2003)

The Impact of Regionalism on Trade in Europe Adobe Acrobat Required
Alho, K.E.O. (2003)

Labour market flexibility and policy coordination in a monetary union   Acrobat Required
Rantala, A. (2003)

The Impact of Monetary Union on Trade Prices Adobe Acrobat Required
Anderton, R., R.E. Baldwin & D. Taglioni (2003)

Macroeconomic Policies of the Economic and Monetary Union: Theorectical Underpinnings and Challenges | Alternative Adobe Acrobat Required
Arestis, P. & M. Sawyer (2003)

Mark-Up Fluctuations and Fiscal Policy Stabilization in a Monetary Union
Beetsma, R. & H. Jensen (2003)

Mundell Revisited: a Simple Approach to the Costs and Benefits of a Single Currency Area | Published   Wiley Interscience Required
Ching, S. & M.B. Devereux (2003)

Double Discretion, International Spillovers and the Welfare Implications of Monetary Unification Adobe Acrobat Required
Cavelaars, P.A.D. (2003)

Financial market integration in the euro area   Acrobat Required
Gjersem, C. (2003)

Structural Reforms and the Enlargement of Monetary Union   Adobe Acrobat Required
Hefeker, C. (2003)

The Euro Area Financial System: Structure, Integration and Policy Initiatives
Hartmann, P., A. Maddaloni & S. Manganelli (2003)

Creating the U.S. Dollar Currency Union, 1748–1811: A Quest for Monetary Stability or a Usurpation of State Sovereignty for Personal Gain?   Ingenta Select Required
Grubb, F. (2004)

On the Desirability of Fiscal Constraints in a Monetary Union | Published   ScienceDirect Required
Chari, V.V. & P.J. Kehoe (2004/07)

Is it is or is it Ain't my Obligation? Regional Debt in Monetary Unions | Published   ScienceDirect Required
Cooper, R., H. Kempf & D. Peled (2004/10)

Inflation convergence after the introduction of the Euro   Adobe Acrobat Required
Mentz, M. & S.P. Sebastian (2003)

A Meta-Analysis of the Effect of Common Currencies on International Trade
Rose, A. (2004)

Nominal versus Real Convergence with Respect to EMU Accession: How to Cope with the Balassa-Samuelson Dilemma   Acrobat Required
Schnabl, G. & P. De Grauwe (2004)

Have a Break, Have a ... National Currency: When Do Monetary Unions Fall Apart?   Adobe Acrobat Required
Nitsch, V. (2004)

Financial Integration, Exchange Rate Regimes in CEECs, And Joining the EMU: Just Do It...   Acrobat Required
Maurel, M. (2004)

European Monetary Integration   Recommended!   CONFERENCE VOLUME
Sinn, H-W., M. Widgrén & M. Köthenbürger (2004)

Abstract: Studies examining the policy challenges posed by European monetary integration, including asymmetry problems and fiscal concerns.

The Suitability of a Greater China Currency Union   Acrobat Required
Cheung, Y-W. & J. Yuen (2004)

Does a common currency lead to (more) price equalization? The role of psychological pricing points   ScienceDirect Required
Friberg, R. & T.Y. Matha (2004)

External Effects of Currency Unions   Acrobat Required
Plümper, T. & V.E. Troeger

Instability And Trade In Currency Areas | Published   Acrobat Required   ScienceDirect Required
Alonso, A., L.C. Corchon & V. Guzman (2004/07)

Currency unions and the real exchange rate   ScienceDirect Required
Ca'Zorzi, M. & R.A. De Santis (2004)

Measuring the Trade Effects of EMU
Faruqee, H. (2004)

A Common Currency: Early U.S. Monetary Policy and the Transition to the Dollar
Rousseau, P.L. (2004)

Leaving EMU: a real options perspective   Acrobat Required
Strobel, F. (2004)

One money, one cycle? Making Monetary Union a smoother ride
Hoeller, P., C. Giorno & C. de la Maisonneuve (2004)

Fiscal and Monetary Interaction: The Role of Asymmetries of the Stability and Growth Pact in EMU
Eijffinger, S.C.W. & M. Governatori (2004)

Currency Bloc Formation as a Dynamic Process Based on Trade Network Externalities
Yehoue, E. (2004)

How Do Monetary and Fiscal Policy Interact in the European Monetary Union?
Canzoneri, M.B., R.E. Cumby & B.T. Diba (2005)

The Effect of Monetary Unification on Public Debt and its Real Return
Beetsma, R. & K. Vermeylen (2005)

Measuring the Economic Impact of Monetary Union: The Case of Okinawa   Ingenta Select Required
Takagi, S., M. Shintani & T. Okamoto (2005)

Monetary policy problems for currency unions: asymmetry and the problem of aggregation in the euro area   ScienceDirect Required
Mayes, D.G. & M. Viren (2005)

Fiscal stabilization policy in a monetary union with inflation targeting   ScienceDirect Required
Andersen, T.M. (2005)

On the Pattern of Currency Blocs in Africa
Yehoue, E. (2005)

The Euro and the Stability Pact
Feldstein, M. (2005)

Endogeneities of optimum currency areas: what brings countries sharing a single currency closer together?   Acrobat Required
De Grauwe, P. & F.P. Mongelli (2005)

Interest rate decisions in an asymmetric monetary union   ScienceDirect Required
Matsena, E. & Ř. Rřislandb (2005)

Welfare Implications of Joining a Common Currency   Acrobat Required
Ca'Zorzi, M., R.A. De Santis & F. Zampolli (2005)

Small country benefits from monetary union   ScienceDirect Required
Grubel, H. (2005)

Uncertainty, Wage Setting and Decision Making in a Monetary Union
Hefeker, C. (2005)

Dynamic stock market integration driven by the European Monetary Union: An empirical analysis
Kim, S.J., F. Moshirian & E. Wu (2005)

Fiscal and Monetary Rules for a Currency Union | Published   ScienceDirect Required   Acrobat Required
Ferrero, A. (2005/08)

Wage Rigidity and Monetary Union   Wiley Interscience Required
Dellas, H. & G. Tavlas (2005)

Prospects for Monetary Unions after the Euro   Recommended!   CONFERENCE VOLUME
De Grauwe, P. & J. Mélitz (editors) (2005)

Abstract: Empirical and theoretical studies on such questions as the desirability and optimal functioning of monetary unions, the enlargement of the eurozone, and the institution of monetary unions in Latin America and East Asia.

Optimal Monetary and Fiscal Policy in a Currency Union | Published   ScienceDirect Required
Gali, J. & T. Monacelli (2005/08)

Is Time Ripe for a Currency Union in Emerging East Asia? The Role of Monetary Stabilisation   Acrobat Required
Sanchez, M. (2005)

Towards European Monetary Integration: The Evolution of Currency Risk Premium as a Measure for Monetary Convergence Prior to the Implementation of Currency Unions   Acrobat Required
Gonzalez, F. & S. Launonen (2005)

Inflation targeting rules and welfare in an asymmetric currency area   ScienceDirect Required
Lombardo, G. (2006)

Rational Inattention, Inflation Developments and Perceptions after the Euro Cash Changeover   Acrobat Required
Ehrmann, M. (2006)

Monetary Union with Voluntary Participation   Wiley Interscience Required
Fuchs, W. & F. Lippi (2006)

The Role of Fiscal Policy in a Monetary Union: Are National Automatic Stabilizers Effective? | Published   Wiley Interscience Required   Acrobat Required
Colciago, A., A. Muscatelli & T. Ropele (2006/08)

Monetary Unions, External Shocks and Economic Performance: A Latin American Perspective
Edwards, S. (2006)

The Parallel-Currency Approach to Asian Monetary Integration   Ingenta Select Required
Eichengreen, B. (2006)

MENA countries as optimal currency areas: Reality or dream   ScienceDirect Required
Sahin, H. (2006)

The Real Effects of EMU
Lane, P.R.

The Elusive Gains from International Financial Integration   Wiley Interscience Required
Gourinchas, P-O. & O. Jeanne (2006)

Implications of Monetary Union for Catching-up Member States   Acrobat Required
Sanchez, M. (2006)

Joining the European Monetary Union - Comparing First and Second Generation Open Economy Models
Le, V.P.M. & P. Minford (2006)

What Do We Now Know About Currency Unions?
Artis, M.J. (2006)

Euros and Zeros: The Common Currency Effect on Trade in New Goods
Baldwin, R.E. & V. Di Nino (2006)

One Market, One Money, One Price?   Acrobat Required
Allington, N.F.B., P.A. Kattuman & F.A. Waldmann (2006)

Welfare Effects of the Euro Cash Changeover
Wunder, C., J. Schwarze, G. Krug & B. Herzog (2006)

Convergence to Purchasing Power Parity at the Commencement of the Euro   Wiley Interscience Required
Lopez, C. & D.H. Papell (2007)

Monetary stabilisation in a currency union: The role of catching up member states   ScienceDirect Required
Sánchez, M. (2007)

Currency Areas and International Assistance   Acrobat Required
Worrall, T. & P.M. Picard (2006)

Explaining the early years of the euro exchange rate: An episode of learning about a new central bank   ScienceDirect Required
Gómez, M., M. Melvin & F. Nardari (2007)

Monetary union, price level convergence, and inflation: How close is Europe to the USA?   ScienceDirect Required
John H. Rogers (2007)

A Monetary Union Model with Cash-in-Advance Constraints   Acrobat Required
Cengiz, G., C. Deniz, T.U. Kuzubas, N.B. Olcay & I. Saglam (2007)

Exchange rate volatility and growth in small open economies at the EMU periphery   Acrobat Required
Schnabl, G. (2007)

The Breakup of the Euro Area
Eichengreen, B. (2007)

A Model of an Optimum Currency Area   Acrobat Required
Ricci, L.A. (2007)

Sui Generis EMU
Eichengreen, B. (2008)

The mechanics of a monetary union with segmented financial markets   ScienceDirect Required
Alves, N. (2008)

A Modern Reconsideration of the Theory of Optimal Currency Areas
Corsetti, G. (2008)

EMU enlargement, stabilization costs and insurance mechanisms   ScienceDirect Required
Afonso, A. & D. Furceri (2008)

The trade and FDI effects of EMU enlargement   ScienceDirect Required
Brouwer, J., R. Paap & J-M. Viaene (2008)

In search of a euro effect: Big lessons from a Big Mac Meal?   ScienceDirect Required
Parsley, D. & S-J. Wei (2008)

The euro: Did the markets cheer or jeer?   ScienceDirect Required
Green, C.J. & Y. Bai (2008)

Sharing Money Creation in a Monetary Union   Wiley Interscience Required
Auray, S., A. Eyquem, G. Hamiache & J-C. Poutineau (2008)

Capital Market Imperfections and the Theory of Optimum Currency Areas
Agenor, P-R. & J. Aizenman (2008)

Is there a connection between monetary unification and real economic integration? Evidence from regime-switching stationarity tests   ScienceDirect Required
Holmes, M.J. & N. Maghrebi (2008)

Trade Effects of Currency Unions: Do Economic Dissimilarities Matter?
Albertin, G. (2008)

Zooming out: The trade effect of the euro in historical perspective   ScienceDirect Required
Berger, H. & V. Nitsch (2008)

The Euro and Structural Reforms
Alesina, A., S. Ardagna & V. Galasso (2008)

The Estimated Effects of the Euro on Trade: Why Are They Below Historical Effects of Monetary Unions Among Smaller Countries?
Frankel, J.A. (2008)

Regional debt in monetary unions: is it inflationary?   Acrobat Required
Cooper, R., H. Kempf & D. Peled (2008)

Reflections on Americans' Views of the Euro Ex Ante
Feldstein, M.S. (2009)

Benefits from Mutual Restraint in a Multilateral Monetary Union   ScienceDirect Required
Buigut, S. & N.T. Valev (2009)

Volatility regime-switching in European exchange rates prior to monetary unification   ScienceDirect Required
Wilfling, B. (2009)

Testing Mundell's Intuition of Endogenous OCA Theory   Wiley Interscience Required
Warin, T., P.V. Wunnava & H.P. Janicki (2009)

Current Accounts in a Currency Union
Decressin, J. & E. Stavrev (2009)

What Lies Beneath the Euro's Effect on Financial Integration: Currency Risk, Legal Harmonization, or Trade?
Kalemli-Ozcan, S., E. Papaioannou & J-L. Peydro (2009)

Nominal Convergence   Acrobat Required
Iancu, A. (2009)

Optimum-Currency-Area Paradoxes   Wiley Interscience Required
Tavlas, G.S. (2009)

The effects of exchange rate uncertainty on exports   ScienceDirect Required
Rahman, S. & A. Serletis (2009)

Monetary and Financial Integration in the EMU: Push or Pull?   ScienceDirect Required
Spiegel, M.M. (2009)

An optimum-currency-area odyssey   ScienceDirect Required
Dellas, H. & G.S. Tavlas (2009)

The Macroeconomic Costs and Benefits of the EMU and other Monetary Unions: An Overview of Recent Research | Published
Beetsma, R. & M. Giuliodori (2009/10)

Is the CFA Franc Zone an Optimum Currency Area?   ScienceDirect Required
Zhao, X. & Y. Kim (2009)

The endogeneity of the Optimum Currency Area criteria in East Asia   ScienceDirect Required
Lee, G.H.Y. & M. Azali (2009)

Why EMU is not a failure   ScienceDirect Required
Grüner, H.P. (2009)

When does financial integration matter for fiscal policy in a currency union? A welfare-based approach   ScienceDirect Required
Koenig, G. & I. Zeyneloglu (2010)

Assessing co-ordinated Asian exchange rate regimes: Proposal for a possible move towards a common currency   ScienceDirect Required
Aggarwal, R. & C.B. Muckley (2010)

Fetters of Gold and Paper
Eichengreen, B. & P. Temin (2010)

Currency Areas and Monetary Coordination   Wiley Interscience Required
Liu, Q. & S. Shi (2010)

Why the Current Account Matters in a Monetary Union: Lessons from the Financial Crisis in the Euro Area
Giavazzi, F. & L. Spaventa (2010)

The Euro After Its First Decade: Weathering the Financial Storm and Enlarging the Euro Area
Regling, K., S. Deroose, R. Felke & P. Kutos (2010)

European Monetary Union: the dark sides of a major success   Wiley Interscience Required
Wyplosz, C. (2010)

The European Union, the Euro, and Equity Market Integration | Published   ScienceDirect Required
Bekaert, G., C.R. Harvey, C.T. Lundblad & S. Siegel (2010/13)

The Effects of Housing Prices and Monetary Policy in a Currency Union
Aspachs-Bracons, O. & P. Rabanal (2011)

Discretionary policy in a monetary union with sovereign debt   ScienceDirect Required BR>Leith, C. & S. Wren-Lewis (2011)

Stock market synchronization and monetary integration   ScienceDirect Required
Wälti, S. (2011)

To be or not to be in monetary union: A synthesis   ScienceDirect Required
Clerc, L., H. Dellas & O. Loisel (2011)

The nonlinear impact of currency unions on bilateral trade   ScienceDirect Required
Katayama, H. & M. Melatos (2011)

External monetary shocks and monetary integration: Evidence from the Bulgarian currency board   ScienceDirect Required
Minea, A. & C. Rault (2011)

Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions
Nakamura, E. & J. Steinsson (2011)

A network perspective on international banking integration   ScienceDirect Required
Arribas, I., F. Pérez & E. Tortosa-Ausina (2011)

Measuring financial market integration over the long run: Is there a U-shape?   ScienceDirect Required
Volosovych, V. (2011)

On the feasibility of monetary union: Does it make sense to look for shocks symmetry across countries when none of the countries constitutes an optimum currency area?   ScienceDirect Required
Louis, R.J., R. Brown & F. Balli (2011)

Exit from a Monetary Union through Euroization: Discipline without Chaos
Cooper, R. (2012)

Federal fiscal transfer rules in monetary unions   ScienceDirect Required
Evers, M.E. (2012)

Real exchange rate adjustment, wage-setting institutions, and fiscal stabilization policy: Lessons from the Eurozone's first decade
Carlin, W. (2012)

Price convergence in the EMU? Evidence from micro data   ScienceDirect Required
Fischer, C. (2012)

Country Size, Currency Unions, and International Asset Returns
Hassan, T.A. (2012)

Welfare Effects of Monetary Integration: the Common Monetary Area and Beyond
Asonuma, T., X. Debrun & P.R. Masson (2012)

Country Size, Currency Unions, and International Asset Returns
Hassan, T. (2012)

Fiscal policy coordination in monetary unions   Acrobat Required
Schroth, J. (2012)

Structural reforms, fiscal consolidation and external rebalancing in monetary union: A model-based analysis   ScienceDirect Required
Vogel, L. (2012)

Fiscal risk in a monetary union   ScienceDirect Required
Daniel, B.C. & C. Shiamptanis (2012)

Fiscal Multipliers: Liquidity Traps and Currency Unions
Farhi, E. & I. Werning (2012)

Fiscal Consolidation in a Currency Union: Spending Cuts vs. Tax Hikes
Erceg, C. & J. Lindé (2012)

The currency union effect on trade is decreasing over time   ScienceDirect Required
de Sousa, J. (2012)

E(M)U effects in global cross-border banking   ScienceDirect Required
Sander, H., S. Kleimeier & S. Heuchemer (2012)

The performance of simple fiscal policy rules in monetary union
Vogel, L., W. Roeger & B. Herz (2012)

Adjustment Mechanisms in a Currency Area
Goodhart, C.A. & D.J. Lee (2012)

Fiscal consolidation in a currency union: spending cuts vs. tax hikes
Erceg, C.J. & J. Lindé (2012)

Deciding to Enter a Monetary Union: The Role of Trade and Financial Linkages | Published   ScienceDirect Required
Lama, R. & P. Rabanal (2012/14)

Task Specialization in U.S. Cities from 1880-2000
Michaels, G., F. Rauch & S.J. Redding (2013)

Business cycle convergence in EMU: A first look at the second moment   ScienceDirect Required
Crespo-Cuaresma, J. & O. Fernández-Amador (2013)

A transfer mechanism for a monetary union   Acrobat Required
Engler, P. & S. Voigts (2013)

Market Deregulation and Optimal Monetary Policy in a Monetary Union | Published   ScienceDirect Required
Cacciatore, M., G. Fiori & F. Ghironi (2013/16)

Housing-Market Heterogeneity in a Monetary Union   ScienceDirect Required
Rubio, M. (2013)

Emigration and Wages: The EU Enlargement Experiment   ScienceDirect Required
Elsner, B. (2013)

Revisiting the theory of optimum currency areas: Is the CFA franc zone sustainable?   ScienceDirect Required
Couharde, C., I. Coulibaly, D. Guerreiro & V. Mignon (2013)

Southeast Asian monetary integration: New evidences from fractional cointegration of real exchange rates   ScienceDirect Required
de Truchis, G. & B. Keddad (2013)

Financial Integration and EMU's External Imbalances in a Two-Country OLG Model   Acrobat Required
Farmer, K. (2013)

How much fiscal discipline in a monetary union   ScienceDirect Required
De Grauwe, P. & Y. Ji (2013)

Pushing the limit? Fiscal policy in the european monetary union   ScienceDirect Required
Daniel, B.C. & C. Shiamptanis (2013)

The Optimal Currency Area in a Liquidity Trap
Cook, D. & M.B. Devereux (2013)

How important is fiscal policy cooperation in a currency union?   ScienceDirect Required
Okano, E. (2013)

When do cooperation and commitment matter in a monetary union?   ScienceDirect Required
Kempf, H. &l; L. von Thadden (2013)

Macroeconomic Effects of Sovereign Restructuring in a Monetary Union: A Model-based Approach | Published   Cambridge Online Required
Forni, L. & M. Pisani (2013/18)

Conditions for a Beneficial Monetary Union under Suboptimal Monetary Policy   Acrobat Required
Groll, D. (2013)

Currency Unions, Export Margins, and Product Differentiation: An Empirical Assessment for European Monetary Union   Wiley Interscience Required
Badinger. H. & K. Türkcan (2014)

Is It Too Late to Bail Out the Troubled Countries in the Eurozone?
Conesa, J.C. & T.J. Kehoe (2014)

Labor Mobility WIthin Currency Unions
Farhi, E. & I. Werning (2014)

">Coordination and Crisis in Monetary Unions   Acrobat Required
Aguiar, M., M. Amador, E. Farhi & G. Gopinath (2014)

When Do Currency Unions Increase Trade?   De Gruyter Journals Required
Hosny, A.S. (2014)

The Price Impact of Joining a Currency Union: Evidence from Latvia
Cavallo, A., B. Neiman & R. Rigobon (2014)

Nontradable sector reform and external rebalancing in monetary union: A model-based analysis   ScienceDirect Required
Vogel, L. (2014)

The European Monetary Union and Imbalances: Is it an Anticipation Story?   Acrobat Required
Siena, D. (2014)

Determinants of sovereign bond yield spreads in the EMU: An optimal currency area perspective   ScienceDirect Required
Costantini, M., M. Fragetta & G. Melina (2014)

Does a Currency Union Need a Capital Market Union?   Acrobat Required
Philippon, T. & J. Martinez (2014)

Sovereign Debt Booms in Monetary Unions | Published   Acrobat Required
Aguiar, M., M. Amador, E. Farhi & G. Gopinath (2014)

Free entry and regulatory competition in a global economy   ScienceDirect Required
Miyagiwa, K. & Y. Sato (2014)

Exchange Risk and Market Integration   Acrobat Required
Chaieb, I. & V. Errunza (2014)

Is global social welfare increasing? A critical-level enquiry   ScienceDirect Required
Cockburn, J., J-Y. Duclos & A. Zabsonré (2014)

Financial Integration and EMU's Imbalances in a Two-Country Overlapping Generations Model   SpringerLink Required
Farmer, K. (2014)

A graceful return of the drachma   ScienceDirect Required
Daniel, B.C. (2014)

Welfare Reversals in a Monetary Union
Auray, S. & A. Eyquem (2014)

Inflation Stabilization and Default Risk in a Currency Union   Acrobat Required
Eiji, O., M. Hamano & P. Picard (2014)

Fiscal Devaluation in a Monetary Union
Engler, P., G. Ganelli, J. Tervala & S. Voigts (2014)

Optimal Monetary Policy in a Currency Union: Implications of a Country-specific Cost Channel   Acrobat Required
Michaelis, J. & J. Palek (2014)

The Effects of Government Spending in a Small Open Economy within a Monetary Union   Acrobat Required
Clancy, D., P. Jacquinot & M. Lozej (2014)

Monetary Policy as an Optimum Currency Area Criterion   Acrobat Required
Groll, D. (2014)

Price-level instability and international monetary policy coordination   De Gruyter Journals Required
Nguyen, H.T. (2014)

Financial Frictions and Optimal Monetary Policy in a Small Open Economy   Acrobat Required
Bejarano, J.A. & L.F. Charry (2014)

Spillover effects in a monetary union: Why fiscal policy instruments matter?   Acrobat Required
Barbier-Gauchard, A., T. Betti & G. Diana (2015)

Cross-Border Banking and Business Cycles in Asymmetric Currency Unions   Acrobat Required
Dräger, L. & C.R. Proańo (2015)

Monetary Union with A Single Currency and Imperfect Credit Market Integration   Acrobat Required
Bignon, V., R. Breton & M.R. Breu (2015)

Monnet's Error?
Guiso, L., P. Sapienza & L. Zingales (2015)

Fiscal Transfers in a Monetary Union with Exit Option   Wiley Interscience Required
Hefeker, C. & M. Neugart (2015)

Has the Eurozone become less fragile? Some empirical tests   ScienceDirect Required
De Grauwe, P. & Y. Ji (2015)

Asymmetric shocks in a currency union: The role of central bank collateral policy   Acrobat Required
Koulischer, F. (2015)

Optimal monetary policy in a currency union with interest rate spreads   ScienceDirect Required
Bhattarai, S., J.W. Lee & W.Y. Park (2015)

Sustainable international monetary policy cooperation   Acrobat Required
Fujiwara, I., T. Kam & T. Sunakawa (2015)

Labor market reforms and current account imbalances: Beggar-thy-neighbor policies in a currency union?   Acrobat Required
Baas, T. & A. Belke (2015)

Inflation, financial conditions and non-standard monetary policy in a monetary union. A model-based evaluation   Acrobat Required
Burlon, L., A. Gerali, A. Notarpietro & M. Pisani (2015)

Progressive Taxation and Monetary Policy in a Currency Union   Acrobat Required
Strehl, W. & P. Engler (2015)

Uncertainty and fiscal policy in a monetary union: Why does monetary policy transmission matter?   ScienceDirect Required
Oros, C. & B. Zimmer (2015)

Are monetary unions more synchronous than non-monetary unions?   Acrobat Required
Crowley, P. & C. Trombley (2015)

Monetary-Financial Stability under EMU   Acrobat Required
Lane, P.R. (2015)

Unemployment, Sovereign Debt, and Fiscal Policy in a Currency Union   Acrobat Required
Ottonello, P., I. Presno & J. Bianchi (2015)

Fiscal federalism and monetary unions: A quantitative assessment   ScienceDirect Required
Evers, M.P. (2015)

Currency Areas and Voluntary Transfers   Acrobat Required
Picard, P.M. & T. Worrall (2015)

Government expenditure composition and fiscal policy spillovers in a small open economy within a monetary union   Acrobat Required
Clancy, D. (2015)

Optimal monetary policy in a currency union with labour market heterogeneity   Acrobat Required
Kontogiannis, N. (2015)

Financial Heterogeneity and Monetary Union   Acrobat Required
Gilchrist, S., R. Schoenle, J. Sim & E. Zakrajsek (2015)

Real Effective Exchange Rate Misalignment in the Euro Area: A Counterfactual Analysis   Wiley Interscience Required
El-Shagi, M., A. Lindner & G. von Schweinitz (2015)

Interest rate convergence in the EMS prior to European Monetary Union   ScienceDirect Required
Frömmel, M. & R. Kruse (2015)

Overborrowing and Balance of Payments Imbalances in a Monetary Union   Wiley Interscience Required
Sy, M. (2015)

Monetary Policy and Welfare in a Currency Union   Acrobat Required
D'Aguanno, L. (2015)

Financial Integration and Growth in a Risky World
Coeurdacier, N., H. Rey & P. Winant (2015)

Price Adjustment in Currency Unions   Acrobat Required
Bleaney, M. & L. Yin (2015)

On the benefits of a monetary union: Does it pay to be bigger?   ScienceDirect Required
Forlati, C. (2015)

Optimal Monetary and Macroprudential Policy in a Currency Union   Acrobat Required
Palek, J. & B. Schwanebeck (2015)

Optimal Currency Area: A 20th Century Idea For the 21st Century?
Aizenman, J. (2016)

Bank Lending, Collateral, and Credit Traps in a Monetary Union   Acrobat Required
Corbisiero, G. (2016)

Monetary Policy and Asset Price Booms: A Step Towards a Synthesis?   Wiley Interscience Required
Fujiki, H., S. Kaihatsu, T> Kurebayashi & T. Kurozumi (2016)

One EMU Fiscal Policy for the EURO   Acrobat Required
Cole, A.L., C. Guerello & G. Traficante (2016)

Government expenditure composition and fiscal policy spillovers in small open economies within a monetary union   ScienceDirect Required
Clancy, D., P. Jacquinot & M. Lozej (2016)

Fiscal rules, financial stability and optimal currency areas   ScienceDirect Required
De Grauwe, P. & P. Foresti (2016)

The Inherent Benefit of Monetary Unions
Groll, D. & T. Monacelli (2016)

Optimal adjustment paths in a monetary union | Published   Acrobat Required   ScienceDirect Required
Belke, A. & D. Gros (2016/17)

Optimal Macroprudential and Monetary Policy in a Currency Union   Acrobat Required
Sergeyev, D. (2016)

Labor policies and capital mobility in theory and in EMU   ScienceDirect Required
Bertola, G. (2016)

On the sources of macroeconomic stability in the euro area   ScienceDirect Required
Avouyi-Dovi, S. & J-G. Sahuc (2016)

Currency unions and trade: A post-EMU reassessment   ScienceDirect Required
Glick, R. & A.K. Rose (2017)

A Literature Survey on Proposed African Monetary Unions   Wiley Interscience Required   SURVEY PAPER
Asongu, S., J. Nwachukwu & V. Tchamyou (2016)

Deleveraging, deflation and depreciation in the euro area   ScienceDirect Required
Kuvshinov, D., G.J. Müller & M. Wolf (2016)

Imbalances and fiscal policy in a monetary union   ScienceDirect Required
Hjortsoe, I. (2016)

What can wavelets unveil about the vulnerabilities of monetary integration? A tale of Eurozone stock markets   ScienceDirect Required
Dewandaru, G., R. Masih & A.M.M. Masih (2016)

Why Do Estimates of the EMU Effect On Trade Vary so Much?
Rose, A.K. (2016)

Core and Periphery in the European Monetary Union: Bayoumi and Eichengreen 25 years later   ScienceDirect Required
Campos, N.F. & C. Macchiarelli (2016)

Optimal Fiscal Substitutes for the Exchange Rate in a Monetary Union   Acrobat Required
Kaufmann, C. (2016)

11. Regime switches under policy uncertainty in monetary unions   Acrobat Required
Canofari, P. & G. Di Bartolomeo (2016)

Currency Unions and Regional Trade Agreements: EMU and EU Effects on Trade   Acrobat Required
Glick, R. (2016)

Did EMU membership cause the "Dutch disease" in the PIGS nations?   ScienceDirect Required
Batavia, B. & P. Nandakumar (2016)

The Effectiveness of a Fiscal Transfer Mechanism in a Monetary Union: A DSGE Model for the Euro Area   Acrobat Required
Verstegen, L. & L. Meijdam (2016)

Trade creation, trade diversion and imbalances in the EMU   ScienceDirect Required
Esposito, P. (2017)

Financial frictions and optimal stabilization policy in a monetary union   ScienceDirect Required
Palek, J. & B. Schwanebeck (2017)

Fiscal policy coordination in currency unions at the effective lower bound
Hettig, T. & G. Müller (2017)

Macroeconomic imbalances and business cycle synchronization. Why common economic governance is imperative for the Eurozone   ScienceDirect Required
Lukmanova, E. & G. Tondl (2017)

Aftershocks of Monetary Unification: Hysteresis with a Financial Twist
Bayoumi, T. & B. Eichengreen (2017)

Regime switches under policy uncertainty in monetary unions   ScienceDirect Required
Canofari, P. & G. Di Bartolomeo (2017)

Strategic fiscal policies and leadership in a monetary union   ScienceDirect Required
Chortareas, G. & C. Mavrodimitrakis (2017)

"Conditional PPP" and real exchange rate convergence in the euro area   ScienceDirect Required
Bergin, P.R., R. Glick & J-L. Wu (2017)

Changes in Export Affinity after the Creation of the EMU   De Gruyter Journals Required
Halevi, N. (2017)

Risk Sharing in the Euro Zone: the Role of European Institutions   Acrobat Required
Milano, V. (2017)

Optimal Fiscal Simple Rules for Small and Large Countries of a Monetary Union   Acrobat Required
Vieira, P., C. Machado & A.P. Ribeiro (2017)

Cross-country fiscal policy spillovers and capital-skill complementarity in currency unions   Acrobat Required
Davoine, T. & M. Molnar (2017)

Interbank Market Frictions and Unconventional Policy in a Currency Union   Acrobat Required
Swarbrick, J.M. & T. Blattner (2017)

Reforming the European Monetary Union
Chari, V.V., A. Dovis & P.J. Kehoe (2017)

International Risk Sharing in the EMU   Acrobat Required
Ferrari, A. & A.R. Picco (2017)

Withdrawal of Italy from the euro area: Stochastic simulations of a structural macroeconometric model?   ScienceDirect Required
Bagnai, A., B. Granville & C.A. Mongeau Ospina (2017)

Home biased expectations and macroeconomic imbalances in a monetary union   Acrobat Required
Coricelli, F. & F.R. Ravasan (2017)

Cross-border spill-overs from fiscal stimulus in a monetary union   ScienceDirect Required
Naraidoo, R., E. Schaling & M.F. Tesfaselassie (2017)

Breaking Badly: The Currency Union Effect on Trade   Acrobat Required
Campbell, D.L. & A. Chentsov (2017)

The Re-Emerging Privilege of Euro Area Membership
Wiegand, J. (2017)

Private and Public Risk Sharing in the Euro Area   Acrobat Required
Cimadomo, J., D. Furtuna & M.M. Giuliodori (2017)

The impact of EMU on bond yield convergence: Evidence from a time-varying dynamic factor model   ScienceDirect Required
Bhatt, V., N.K. Kishor & J. Ma (2017)

Competitive tax reforms in a monetary union with endogenous entry and tradability   ScienceDirect Required
Auray, S., A. Eyquem & X. Ma (2017)

The Eurozone Convergence through Crises and Structural Changes   Acrobat Required
Uctum, M., R. Uctum & C-P.C. Vijverberg (2017)

Global banking and the conduct of macroprudential policy in a monetary union | Published   Acrobat Required   ScienceDirect Required
Poutineau, J-C. & G. Vermandel (2017)

Monetary-Fiscal Interactions and the Euro Area's Malaise
Jarocinski, M. & B. Mackowiak (2017)

Fiscal sustainability in EMU countries: A continued fiscal commitment?   ScienceDirect Required
Paniagua, J., J. Sapena & C. Tamarit (2017)

Can a common currency foster a shared social identity across different nations? The case of the euro   ScienceDirect Required
Buscha, F., D. Muller & L. Page (2017)

Growth effects of EU and EZ memberships: Empirical findings from the first 15 years of the Euro   ScienceDirect Required
Dreyer, J.K. & P.A. Schmid (2017)

Fiscal policy transmission in a non-Ricardian model of a monetary union   Acrobat Required
Bierbrauer, C. (2017)

Euro Area Imbalances   Acrobat Required
Mink, M., J. Jacobs & J. de Haan (2017)

On fiscal and monetary integration in Europe   Acrobat Required
Verstegen, L. (2017)

National Fiscal Stimulus Packages And Consolidation Strategies In A Monetary Union   Acrobat Required
Bierbrauer, C. (2017)

Oil price shocks, monetary policy and current account imbalances within a currency union   Acrobat Required
Baas, T. & A. Belke (2017)

Inequality and Imbalances: a Monetary Union Agent-Based Model   Acrobat Required
Cardaci, A. & F. Saraceno (2017)

Optimal Monetary and Fiscal Policy with Migration in a Currency Union   Acrobat Required
Gomis-Porqueras, P. & C. Zhang (2017)

Monetary and Fiscal Policies Interaction in Monetary Unions   Wiley Interscience Required   SURVEY PAPER
Foresti, P. (2018)

Economic Convergence in the Euro Area: Coming Together or Drifting Apart?
Franks, J.R., B.B. Barkbu, R. Blavy, W. Oman & H. Schoelermann (2018)

Credit Risk in the Euro Area   Wiley Interscience Required
Gilchrist, S. & B. Mojon (2018)

Behavior of retail prices in common currency areas: The case of the Eurozone   ScienceDirect Required
Nikolsko-Rzhevskyy, A. & O. Ogrokhina (2018)

Is the survival of the euro area at risk? An economic analysis of exit and contagion possibilities   ScienceDirect Required
Canofari, P. & M. Messori (2018)

Friends without benefits? New EMU members and the "Euro Effect" on trade   ScienceDirect Required
Mika, A. & R. Zymek (2018)

Fiscal transfers in a monetary union with sovereign risk   Acrobat Required
Bandeira, G. (2018)

Currency Union with and without Banking Union   Acrobat Required
Bignon, V., R. Breton & M.R. Breu (2018)

Fiscal Policy in a Currency Union at the Zero Lower Bound   Acrobat Required
Cook, D. & M.B. Devereux (2018)

On Bank Consolidation in a Currency Union
Di Vittorio, F., D. Li & H. Yun (2018)

One money, many markets: a factor model approach to monetary policy in the Euro Area with high-frequency identification
Corsetti, G., J.B. Duarte & S. Mann (2018)

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Regional Integration Agreements

Research papers Regional Integration Agreements has been filed under the international trade research section.


The myth of economic globalization: notes from a European perspective   Acrobat Required!
Kleinknecht, A. & J. Wengel (1997)

Papers on Globalisation & Poverty

Eliminating World Poverty: Making Globalisation Work for the Poor
Department for International Development (2000)

White Paper Background Papers   Recommended!
Various authors (2000)

Abstract: Background papers for the UK Government's second White Paper on International Development entitled: "Eliminating World Poverty: Making Globalisation Work for the Poor".

Globalization and Macroeconomics   Recommended!
Obstfeld, M. (2000)

Abstract: Since the earliest days of systematic economic analysis, economists have sought to understand how the openness of economies affects their responses to disturbances occurring both at home and abroad. Indeed, the 1999 Nobel Memorial Prize in Economics was presented to Robert A. Mundell in large part for his pioneering studies of the links among economic policy, monetary arrangements, and the degrees of international capital and labor mobility. My recent research concentrates on four sets of questions in international macroeconomics. First, how integrated are world markets, and what does the degree of integration imply for macroeconomic phenomenons? Second, how can we model the open economy in a way that is useful for guiding policy? Third, what are the implications for international monetary arrangements? Fourth, what forces have promoted international economic integration, specifically the integration of capital markets?

Does Globalization Make the World More Unequal?
Lindert, P.H. & J.G. Williamson (2001)

Civil regulation - new governance for the global economy?
Bendell, J. (2001)

Financial Systems, Economic Growth, and Globalization
Rousseau, P.L. & R. Sylla (2001)

Globalization and the Challenge for Developing Countries
Yusuf, S. (2001)

Globalization   Acrobat Required
Greenspan, A. (US Fed) (2001)

Global Trends 2015: A Dialogue About the Future With Nongovernment Experts
Various (2001)

Winners and losers: making the most of globalisation
White, H. (2001)

Abstract: Can developing country governments simultaneously integrate with the world economy and work towards poverty elimination? Who are the losers from globalisation and how should the international community respond to the fact of their loss?

Globalization and Firms' Financing Choices: Evidence from Emerging Economies | Published   ScienceDirect Required
Schmukler, S. & E. Vesperoni (2002/05)

International Migration and the Global Economic Order:An Overview
Solimano, A. (2002)

Does Globalization Increase Child Labor? Evidence from Vietnam
Edmonds, E. & N. Pavcnik (2002)

Globalization and Inequality: Evidence from Within China
Wei, S.J. & Y. Wu (2002)

Globalization and Capital Markets
Obstfeld, M. & A.M. Taylor (2002)

New world order? In search of stability for the global economy
Gardiner, R. (2002)

Globalization and Changing Patterns in the International Transmission of Shocks in Financial Markets | Published   ScienceDirect Required
Bordo, M.D. & A.P. Murshid (2002/06)

Globalizzazione   Adobe Acrobat Required!
Helg, R. (2002)

Globalisation: a threat to social policy?
Norton, A. (2002)

The Missing Globalization Puzzle
Coe, D.T., A. Subramanian, N.T. Tamirisa & R. Bhavnani (2002)

Globalization and Democracy   REVIEW PAPER Recommended!
Munck, R.P & B.K. Gills (2002)

Abstract: The Annals of the American Academy of Political and Social Science, Volume 581.

Financial Globalization and Real Regionalization | Alternative Recommended!
Heathcote, J. & F. Perri (2002)

Abstract: Over the period 1972-1986, the correlations of GDP, employment and investment between the United States and an aggregate of Europe, Canada and Japan were respectively 0.76, 0.66, and 0.63. For the period 1986 to 2000 the same correlations were much lower: 0.26, 0.03 and -0.07 (real regionalization). At the same time, U.S. international asset trade has significantly increased. For example, between 1972 and 1999, United States gross FDI and equity assets in the same group of countries rose from 4 to 23 percent of the U.S. capital stock (financial globalization). We document that the correlation of real shocks between the U.S. and the rest of the world has declined. We then present a model in which international financial market integration occurs endogenously in response to less correlated shocks. Financial integration further reduces the international correlations in GDP and factor supplies. We find that both less correlated shocks and endogenous financial market development are needed to account for all the changes in the international business cycle.

Globalization, Trade, and Development: Some Lessons From History
Taylor, A.M. (2002)

Overturning Mundell: fiscal policy in a monetary union   Adobe Acrobat Required
Cooper, R. & H. Kempf (2002)

Economic Insecurity and the Globalization of Production   Adobe Acrobat Required
Scheve, K. & M. Slaughter (2002)

Determinants of FDI in Developing Countries: Has Globalization Changed the Rules of the Game?   Adobe Acrobat Required!
Nunnenkamp, P. (2002)

Globalization and Workers in Developing Countries
Rama, M. (2003)

Financial Globalization: Unequal Blessings   Adobe Acrobat Required
de la Torre, A., E.L. Yeyati & S. Schmukler (2003)

Financial Globalization: Some Conceptual Problems Adobe Acrobat Required
Arestis, P. & S. Basu (2003)

Financial Integration and Macroeconomic Volatility
Kose, A., E.S. Prasad & M.E. Terrones Silva (2003)

AFTA and the Asian Crisis: Help or Hindrance to ASEAN Intra-Regional Trade Adobe Acrobat Required
Elliott, R.J.R. & K. Ikemoto (2003)

International Financial Integration | Alternative
Lane, P. & G.M. Milesi-Ferretti (2003)

Information Diffusion in International Markets
Morisset, J., A. Izquierdo & M. Olarreaga (2003)

The Elusive Gains from International Financial Integration
Gourinchas, P.O. & O. Jeanne (2003)

The Debate on Globalization, Poverty, and Inequality: Why Measurement Matters
Ravallion, M. (2003)

Globalisation: heralding the end of the developmental state?
Newell, P. (2003)

Democracy's Dilemma: Environment, Social Equity, and the Global Economy
Paehlke, R.C. (2003)

Globalization and Its Challenges   Ingenta Select Required
Fischer, S. (2003)

Benefits and Costs of International Financial Integration: Theory and Facts
Agenor, P.R. (2001)

International Financial Integration   Acrobat Required
Lane, P.R. & G.M. Milesi-Ferretti (2003)

Trade Openness, Foreign Direct Investment and Child Labor   Acrobat Required
Neumayer, E. & I. de Soysa (2003)

Financial Globalization and Regulation | Alternative   Acrobat Required
Arestis, P. & S. Basu (2004)

Globalization and Poverty   Acrobat Required
Majid, N. (2004)

Fooling Ourselves: Evaluating the Globalization and Growth Debate
Hallak, J.C. & J. Levinsohn (2004)

Challenges to Globalization   Recommended!
Baldwin, R.E. (2004)

Abstract: Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding globalization's relationship to democracy, its impact on the environment, and the associated expansion of trade and its effects on prices. Of significant note are papers on the labor market that discuss the infamous brain drain, sweat shop labor, wage levels, and changes in production processes.

Has Globalization Gone Far Enough? The Costs of Fragmented Markets
Bradford, S.C. & R.Z. Lawrence (2004)

A fair globalization: creating opportunities for all
ILO (2004)

Wealth bias in the first global capital market boom, 1870-1913   Wiley Interscience Required
Clemens, M.A. & J.G. Williamson (2004)

The G-20 and the World Economy
Bergsten, C.F. (2004)

Islam, Globalization, and Economic Performance in the Middle East   Acrobat Required
Noland, M. & H. Pack (2004)

Globalization, Returns to Accumulation and the World Distribution of Output | Published   ScienceDirect Required
Beaudry, P. & F. Collard (2004/06)

Globalization, Technology and Asian Development
Stiglitz, J. (2004)

False Prophet, or Genuine Savior? Assessing the Effects of Economic Openness on Sustainable Development, 1980-1999   Acrobat Required
de Soysa, I. & E. Neumayer (2004)

Globalization, Poverty, Inequality, and Insecurity: Some Insights from the Economics of Happiness   Acrobat Required
Graham, C. (2004)

Globalization’s Bystanders: Does Globalization Hurt Countries that Do Not Participate?   Acrobat Required
Deardorff, A.V. & R.M. Stern (2004)

What Are the Right Institutions in a Globalizing World? And ... Can We Keep Them if We've Found Them?
Islam, R. (2004)

Financial Globalization, Growth and Volatility in Developing Countries   Recommended!
Prasad, E.S., K.S. Rogoff, S-J. Wei & M.A. Kose (2004)

Abstract: This paper provides a comprehensive assessment of empirical evidence about the impact of financial globalization on growth and volatility in developing countries. The results suggest that it is difficult to establish a robust causal relationship between financial integration and economic growth. Furthermore, there is little evidence that developing countries have been consistently successful in using financial integration to stabilize fluctuations in consumption growth. However, we do find that financial globalization can be beneficial under the right circumstances. Empirically, good institutions and quality of governance are crucial in helping developing countries derive the benefits of globalization. Similarly, macroeconomic stability appears to be an important prerequisite for ensuring that financial globalization is beneficial for developing countries. Finally, countries that employ relatively flexible exchange rate regimes and succeed in maintaining fiscal discipline are more likely to enjoy the potential growth and stabilization benefits of financial globalization.

Globalization and Disinflation: A Note
Razin, A. (2004)

Fair Trade: A 'Third Generation' Welfare Mechanism to Make Globalisation Sustainable
Adriani, F. & L. Becchetti (2004)

Globalization and the Returns to Speaking English in South Africa
Levinsohn, J. (2004)

Policies Facilitating Firm Adjustment to Globalization
Hoekman, B. & B.M. Javorcik (2004)

Why are the Critics so Convinced that Globalization is Bad for the Poor?
Aisbett, E. (2005)

Economic Takeoffs in a Dynamic Process of Globalization   Wiley Interscience Required
Bond, E.W., R.W. Jones & P. Wang (2005)

Globalisation vs Skill-Biased Technological Change: Implications for Unemployment and Wage Inequality   Wiley Interscience Required
Moore, M.P. & P. Ranjan (2005)

Globalization and Values
Whalley, J. (2005)

Metrics Capturing the Degree to which Individual Economies are Globalized
Riezman, R., J. Whalley & S. Zhang (2005)

A Better Globalization: Legitimacy, Governance, and Reform   Recommended!
Dervis, K. (2005)

Abstract: The huge costs of armed conflict, the great challenge of state failure, and the slow pace of international actions to address world poverty all point to weaknesses in the global institutional framework and the need for much more effective international cooperation. In this book, Kemal Dervis argues that it is time to build a new international governance structure, breaking away from a system that reflects the post World War II world toward one that is appropriate to the realities and requirements of the 21st century. He proposes a reform of the international institutional architecture based on high-level governance in both the political and economic domains by a renewed and modernized United Nations. Navigating between careful realism and bold idealism, he formulates a coherent vision encompassing both institutional reform and new ideas for policies supported by the specialized institutions such as the IMF, the World Bank, the WTO, the UN agencies themselves, and regional institutions such as the regional development banks. In this plea for “better” globalization, Dervis proposes that, under the legitimizing umbrella of the UN, the specialized institutions deal with the deep causes of the obstacles to poverty reduction and instability rather than their immediate manifestations. He recognizes the great potential that more and freer trade can have for accelerating growth throughout the world. He also stresses, however, that for this potential to be unleashed, the hearts and minds of people must be won by transforming not only the WTO framework but the entire governance of the international economic system into something that is perceived as more legitimate and more responsive to the concerns of the developing world as well as wealthy and creditor nations.

Globalization in Historical Perspective   Recommended!   CONFERENCE VOLUME
Bordo, M.D., A.M. Taylor & J.G. Williamson (editors) (2005)

Abstract: As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. This volume presents a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration.

Globalization and Developing Countries - A Shrinking Tax Base?
Aizenman, J. & Y. Jinjarak (2006)

Globalization and Stock Market Returns
Lam, S.S. &l W. Ang (2006)

Globalization in the World of Finance: An Analytical History
Das, D.K. (2006)

China's Embrace of Globalization
Bransetter, L. & N. Lardy (2006)

Financial Globalization: A Reappraisal
Kose, M.A., E. Prasad, S-J. Wei & K. Rogoff (2006)

The External Financing of Emerging Market Countries: Evidence from Two Waves of Financial Globalization
Lince de Faria, A., P. Mauro, M. Minnoni & A. Zaklan (2006)

Poverty Traps, Distance, and Diversity: The Migration Connection
Williamson, J.G. (2006)

Inequality and Schooling Responses to Globalization Forces: Lessons from History
Williamson, J.G. (2006)

International Trade and Finance under the Two Hegemons: Complementaries in the United Kingdom 1870-1913 and the United States 1920-30
Taylor, A.M. & J.L.F. Wilson (2006)

Losing our Marbles in the New Century? The Great Rebalancing in Historical Perspective
Meissner, C.M. & A.M. Taylor (2006)

Globalization and the ‘confidence game’   ScienceDirect Required
Mukand, S.W. (2006)

Trade Costs in the First Wave of Globalization
Jacks, D.S., C.M. Meissner & D. Novy (2006)

Ideology and Voter Preferences as Determinants of Financial Globalization   Wiley Interscience Required
Quinn, D.P. & A.M. Toyoda (2007)

Risk, Government and Globalization: International Survey Evidence
Mayda, A.M., K.H. O'Rourke & R. Sinnott (2007)

Distributional Effects of Globalization in Developing Countries   Ingenta Select Required   REVIEW PAPER
Goldberg, P.K. & N. Pavcnik (2007)

Globalisation and the role of effective international institutions   ScienceDirect Required
Moshirian, F. (2007)

Migration, spillovers, and trade diversion: The impact of internationalization on domestic stock market activity   ScienceDirect Required
Levine, R. & S.L. Schmukler (2007)

It's a Big World After All   Acrobat Required
Brakman, S. & C. van Marrewijk (2007)

Distressed workers: What has globalization to do with it? Distressed workers: What has globalization to do with it?   ScienceDirect Required
Bhagwati, J. (2007)

Globalization and Monetary Control
Woodford, M. (2007)

Social Security in a globalizing world   Wiley Interscience Required
Kannan, K.P. (2007)

Financial Globalization and Emerging Market Portfolios   Acrobat Required
Devereux, M.B. (2007)

On the Welfare Implications of Financial Globalization without Financial Development
Mendoza, E.G., V. Quadrini & J-V. Ríos-Rull (2007)

Challenges to Globalization   Recommended!
Baldwin, R.E. (2007)

Abstract: Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices.

Globalization and Its Impact on Labour   Acrobat Required
Feenstra, R.C. (2007)

How to Save Globalization from its Cheerleaders
Rodrik, D. (2007)

Foreign Capital and Economic Growth in the First Era of Globalization
Bordo, M.D. & C.M. Meissner (2007)

International Financial Integration and the Real Economy
Evans, M.D.D. & V.V. Hnatkovska (2007)

Surviving globalisation   ScienceDirect Required
Greenaway, D., J. Gullstrand & R. Kneller (2008)

Was Germany Ever United? Evidence from Intra- and International Trade, 1885 -1933
Wolf, N. (2008)

Globalization, Macroeconomic Performance, and Monetary Policy
Mishkin, F.S. (2008)

Globalization and innovation in emerging markets | Published
Gorodnichenko, Y., J. Svejnar & K. Terrell (2008/10)

Financial globalization and monetary policy   ScienceDirect Required
Devereux, M.B. & A. Sutherland (2008)

Globalization and the dynamics of cultural identity   ScienceDirect Required
Olivier, J., M. Thoenig & T. Verdier (2008)

Dynamic Globalization and Its Potentially Alarming Prospects for Low-Wage Workers
Fehr, H., S. Jokisch & L.J. Kotlikoff (2008)

How Globalization Affects Tax Design
Hines, Jr., J.R. & L.H. Summers (2009)

Does globalisation discipline monetary policymakers?   ScienceDirect Required
Cavelaars, P. (2009)

Globalization and financial development   ScienceDirect Required
Mishkin, F.S. (2009)

Sequencing of reforms, financial globalization, and macroeconomic vulnerability   ScienceDirect Required
Edwards, S. (2009)

Globalization, Technology, and the Skill Premium: A Quantitative Analysis
Burstein, A. & J. Vogel (2010)

Some Simple Tests of the Globalization and Inflation Hypothesis   Wiley Interscience Required
Ihrig, J., S.B. Kamin, D. Lindner & J. Marquez (2011)

World betas, consumption growth, and financial integration   ScienceDirect Required
Larrain, B. (2011)

What drives international equity correlations? Volatility or market direction?   ScienceDirect Required
Amira, K., A. Taamouti & G. Tsafack (2011)

Globalization and Volatility under Alternative Trade Structures   Acrobat Required
Hu, Y. & K. Mino (2011)

Debt, interest rates, and integration of financial markets   ScienceDirect Required
Claeys, P., R. Moreno & J. Surińach (2011)

Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels
Tong, H. & S-J. Wei (2011)

Nominal Stability and Financial Globalization
Devereux, M.B., O. Senay & A. Sutherland (2012)

Globalization, structural change, and productivity growth   Acrobat Required
McMillan, M. & D. Rodrik (2012)

Who Needs the Nation State?
Rodrik, D. (2012)

Riding Global Financial Waves: The Economic Impact of Global Financial Shocks on Emerging Market Economies
Adler, G., T. Mora & C. Ernesto (2012)

The Great Leveraging
Taylor, A.M. (2012)

International trade and institutional change: Medieval Venice's response to globalization
Puga, D. & D. Trefler (2012)

Globalization and U.S. Wages: Modifying Classic Theory to Explain Recent Facts
Haskel, J. R.Z. Lawrence, E.E. Leamer & M.J. Slaughter (2012)

Globalization, Brain Drain, and Development
Docquier, F. & H. Rapoport (2012)

Globalization and Corporate Taxation
Kumar, M. & D. Quinn (2012)

Globalization and labor market institutions: International empirical evidence   ScienceDirect Required
Potrafke, N. (2013)

Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets
Mendoza, E.G. & K.A. Smith (2013)

Firm Performance in a Global Market
De Loecker, J. & P.K. Goldberg (2013)

The short and long-run impact of globalization if firms deiffer in factor input ratios   ScienceDirect Required
Namini, J.E. (2013)

Globalization, trade, and wages: what does history tell us about China?   Wiley Interscience Required
Mitchener, K.J. & S. Yan (2014)

Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century   Recommended!
Feenstra, R.C. & A.M. Taylor (editors) (2014)

Abstract: Along with its painful economic costs, the financial crisis of 2008 raised concerns over the future of international policy making. As in recessions past, new policy initiatives emerged, approaches that placed greater importance on protecting national interests than promoting international economic cooperation. Whether in fiscal or monetary policies, the control of currencies and capital flows, the regulation of finance, or the implementation of protectionist policies and barriers to trade, there has been an almost worldwide trend toward the prioritizing of national economic security. But what are the underlying economic causes of this trend, and what can economic research reveal about the possible consequences?

Product-based cultural change: Is the village global?   ScienceDirect Required
Maystre, N., J. Olivier, M. Thoenig & T. Verdier (2014)

Is Globalization Weakening the Inflation-Output Relationship?   Wiley Interscience Required
López-Villavicencio, A. & S. Saglio (2014)

Entrepreneurship Policy and Globalization   ScienceDirect Required
Norbäck, P-J., L. Persson & R. Douhan (2014)

Does the bonding effect matter in a more integrated capital market world?   ScienceDirect Required
Doukas, J.A. & L. Wang (2014)

Financial Globalization, Inequality, and the Rising Public Debt
Azzimonti, M., E. de Francisco & V. Quadrini (2014)

Does globalization create superstars? A simple theory of managerial wages   ScienceDirect Required
Gersbach, H. & A. Schmutzler (2014)

A simple model of globalization, schooling and skill acquisition   ScienceDirect Required
Davidson, C. & N. Sly (2014)

Globalization and imperfect labor market sorting   ScienceDirect Required
Davidson, C., F. Heyman, S. Matusz, F. Sjöholm & S.C. Zhu (2014)

Does trade globalization induce or inhibit corporate transparency? Unbundling the growth potential and product market competition channels   ScienceDirect Required
Tong, H. & S-J. Wei (2014)

The Federal Reserve in a Globalized World Economy   Acrobat Required
Taylor, J.B. (2014)

Does globalization promote real output? Evidence from quantile cointegration regression   ScienceDirect Required
Chang, C-P., C-C. Lee & M-C. Hsieh (2014)

Deglobalization of Banking: The World is Getting Smaller
Van Rijckeghem, C. & B. Weder di Mauro (2014)

Globalization and inflation: Evidence from a time-varying VAR   ScienceDirect Required
Bianchi, F. & A. Civelli (2015)

Globalization and the transmission of social values: The case of tolerance   ScienceDirect Required
Berggren, N. & T. Nilsson (2015)

Who's Getting Globalized? The Size and Implications of Intra-national Trade Costs
Atkin, D. & D. Donaldson (2015)

Globalization and Wage Polarization   MIT Press Subscription Required
Cozzi, G. & G. Impullitti (2015)

Does Government Intervention Affect Banking Globalization? | Published   ScienceDirect Required
Kleymenova, A., A.K. Rose & T. Wieladek (2016)

Ex Tridenti Mercatus? Sea-power and maritime trade in the age of globalization   ScienceDirect Required
Glaser, D.J. & A.S. Rahman (2016)

Natural resources, decentralization, and risk sharing: Can resource booms unify nations?   ScienceDirect Required
Perez-Sebastian, F. & O. Raveh (2016)

A tale of two globalizations: gains from trade and openness 1800-2010   Acrobat Required
Federico, G. & A. Tena Junguito (2016)

Intra-industry Trade in a Rapidly Globalizing Industry: The Case of Wine   Wiley Interscience Required
Anderson, K., J. Francois, D. Nelson & G. Wittwer (2017)

Globalization and inflation: A threshold investigation   ScienceDirect Required
Ahmad, S. & A. Civelli (2016)

Back to the Future: International Trade Costs and the Two Globalizations   Acrobat Required
Fouquin, M. & J. Hugot (2016)

Globalization of Labor Markets and the Growth Prospects of Nations
Basu, K. (2017)

Migration and Globalization: What's in it for Developing Countries?   Acrobat Required
Rapoport, H. (2016)

Information Globalization   Acrobat Required
Baley, I., L. Veldkamp & M. Waugh (2016)

Financing Education in Europe: The Globalization Perspective   Wiley Interscience Required
Ozkok, Z. (2016)

Market Potential and Global Growth over the Long Twentieth Century
Jacks, D.S. & D. Novy (2016)

The Globalization Risk Premium   Acrobat Required
Barrot, J-N., E. Loualiche & J. Sauvagnat (2016)

Globalization, Market Structure and Inflation Dynamics.   Acrobat Required
Guilloux-Nefussi, S. (2016)

Globalization, Worker Mobility and Wage Inequality   Wiley Interscience Required
Stijepic, D. (2017)

A Solution to the Missing Globalization Puzzle by Non-CES Preferences   Wiley Interscience Required
Yilmazkuday, H. (2017)

Distance, globalization, and international trade   ScienceDirect Required
Borchert, I. & Y.V. Yotov (2017)

Globalization and human capital investment: Export composition drives educational attainment   ScienceDirect Required
Blanchard, E.J. & W.W. Olney (2017)

Financial globalisation, monetary policy spillovers and macro-modelling: tales from 1001 shocks   Acrobat Required
Georgiadis, G. & M. Jancoková (2017)

Financial Globalization and Market Volatility: An Empirical Appraisal
Cordella, T. & A. Ospino Rojas (2017)

Financial deglobalisation in banking?   Acrobat Required
McCauley, R.N., A.S. Bénétrix, P.M. McGuire & G. von Peter (2017)

Globalisation and the decline of the labour share: A microeconomic perspective   ScienceDirect Required
Perugini, C., M. Vecchi & F. Venturini (2017)

Equity Market Globalization and Portfolio Rebalancing
Kim, K. & D. Lee (2017)

Can Countries Manage Their Financial Conditions Amid Globalization?
Arregui, N., S. Elekdag, R.G. Gelos, R. Lafarguette & D. Seneviratne (2018)

Globalization and the evolution of corporate governance   ScienceDirect Required
Schymik, J. (2018)

Retail Globalization and Household Welfare: Evidence from Mexico   UChicago Journals Required
Atkin, D., B. Faber & M. Gonzalez-Navarro (2018)

Globalization and productivity: A robust nonparametric world frontier analysis   ScienceDirect Required
Mastromarco, C. & L. Simar (2018)

Managing Financial Globalization: Insights from the Recent Literature   SURVEY PAPER
Wei, S-J. (2018)

Globalization and the decline in labor shares: Exploring the relationship beyond trade and financial flows   ScienceDirect Required
Young, A.T. & M.Y. Tackett (2018)

Market size in globalization   ScienceDirect Required
Kato, H. & T. Okubo (2018)

Globalization and the New Normal
Carare, A. & B. Candelon (2018)

The Second Era of Globalization Is Not yet Over: An Historical Perspective   Acrobat Required
Bordo, M.D. (2018)

The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data
Furceri, D., P. Loungani & J.D. Ostry (2018)

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Economic Geography

Increasing Returns and Economic Geography   Recommended!   JSTOR Required
Krugman, P.R. (1991)

Abstract: This paper develops a simple model that shows how a country can endogenously become differentiated into an industrialized "core" and an agricultural "periphery". In order to realize scale economies while minimizing transport costs, manufacturing firms tend to locate in the region with larger demand, but the location of demand itself depends on the distribution of manufacturing. Emergence of a core-peiphery pattern depends on transportation costs, economies of scale, and the share of manufacturing in national income.

The Spatial Economy: Introduction
Fujita, M., P. Krugman & A. Venables (1999)

Cluster emergence on a global continuum
Quah, D. (1999)

Geography & Development
Henderson, V., Z. Shalizi & A.J. Venables (2000)

Internet Cluster Emergence   Recommended!
Quah, D. (2000)

Abstract: Internet development holds the promise of transmitting economic value across physical space at zero marginal cost. In such a ``weightless economy'', what factors matter for the location of economic activity and thus for economic development? This paper sketches a model of spatial dynamics over a three-dimensional globe, where transportation costs don't matter. The paper develops conditions under which clusters of activity emerge.

Singapore's Role as ICT Hub: View from the New Economic Geography   Acrobat Required
Lim, J.J. (2001)

The Economic Geography of the Internet Age   Acrobat Required
Leamer, E.E. & M. Storper (2001)

Demand-driven knowledge clusters in a weightless economy
Quah, D. (2001)

The Economic Geography of the Internet Age
Leamer, E.E. & M. Storper (2001)

Abstract: This paper combines the perspective of an international economist with that of an economic geographer to reflect on how and to what extent the Internet will affect the location of economic activity. Even after the very substantial transportation and communication improvements during the 20th Century, most exchanges of physical goods continue to take place within geographically-limited 'neighborhoods.' Previous rounds of infrastructure improvement always have had a double effect, permitting dispersion of certain routine activities but also increasing the complexity and time-dependence of productive activity, and thus making agglomeration more important. We argue that the Internet will produce more of the same forces for deagglomeration, but offsetting and possibly stronger tendencies toward agglomeration. Increasingly the economy is dependent on the transmission of complex uncodifiable messages, which require understanding and trust that historically have come from .face-to-face contact. This is not likely to be affected by the Internet, which allows long distance 'conversations' but not 'handshakes.'

Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution
Acemoglu, D., S. Johnson & J.A. Robinson (2001)

Agglomeration Economies and Productivity in Indian Industry
Lall, S., Z. Shalizi & U. Deichmann (2001)

Bones, Bombs and Break Points: The Geography of Economic Activity
Davis, D.R. & D.E. Weinstein (2001)

How Migration Restrictions Limit Agglomeration and Productivity in China
Au, C.C. & V. Henderson (2002)

Technology, Agglomeration, and Regional Competition for Investment
Blonigen, B.A. & V. Kolpin (2002)

Regional specialization and trade patterns in Europe   Acrobat Required
Frias, I., A. Iglesias & I. Neira (2002)

Agglomeration, Integration and Tax Harmonization
Baldwin, R.E. & P. Krugman (2002)

Distance, Skill Deepening and Development: Will Peripheral Countries Ever Get Rich?
Redding, S. &l P.K. Schott (2003)

Geography and Export Performance: External Market Access and Internal Supply Capacity
Redding, S. & A.J. Venables (2003)

Space Is more than Geography Adobe Acrobat Required
Beck, N. & K. Gleditsch (2003)

Cities, Regions and the Decline of Transport Costs
Glaeser, E.L. & J.E. Kohlhase (2003)

Changing Economic Geography and Vertical Linkages in Japan
Tomiura, E. (2003)

Micro-Foundations of Urban Agglomeration Economies
Duranton, G. & D. Puga (2003)

Relative Wage Variation and Industry Location
Bernard, A.B., S. Redding, P.K. Schott & H. Simpson (2003)

Comparative Advantage and the Location of Production   Wiley Interscience Required
Forslid, R. & I. Wooton (2003)

The Origins of Spatial Interaction
Keller, W. & C.H. Shiue (2003)

Economic geography and international inequality   ScienceDirect Required
Redding S. & A.J. Venables (2004)

Timeliness, Trade and Agglomeration
Harrigan, J. & A.J. Venables (2004)

Boom Towns And Ghost Countries: Geography, a Conglomeration, and Population Mobility?   Recommended!
Pritchett, L. (2004)

Abstract: Ghost towns dot the West of the United States. These cities boomed for a period and then, for various reasons, fell into a process of decline and have shrunk to a small fraction of their former population. Are there ghost countries—countries that, if there were population mobility, would only have a very small fraction of their current population? This paper carries out four empirical illustrations of the potential magnitude of the “ghost country” problem by showing that the “desired population” of any given geographic region varies substantially. First, the variance of growth rates of populations due to mobility across regions of the same country is often twice large as the variance across all developing countries in the world. While the variance of per capita output or income growth is much smaller. The ratio of the variance of the growth of population to the variance of the growth of output per head across regions within countries is 4 to 14 times as large as the same ratio across developing countries. Second, using county level data I construct “ghost regions” of the United States —contiguous collections of counties that are the size of many countries and have only a third the population they would have had without out-migration. Third, I compare the historical evolution of labor force and real wages of Ireland in the nineteenth century to the response of labor force and wages (or output per head) to negative shocks when labor mobility is restricted. Fourth, I calculate the changes in the labor force that would restore GDP per capita to its previous peak. All of these calculations suggest that even with thorough going “globalization” —the free mobility of goods and capital— and complete “policy reform” —common economic institutions and policies— there will remain substantial pressures for labor mobility. This also implies there will be both boom towns and ghost countries.

On the Geography of Trade: Distance is Alive and Well
Carrere, C. & M. Schiff (2004)

Regional Policy, Integration and the Location of Industry in a Multiregion Framework
Forslid, R. (2004)

Globalization, polarization and cultural drift   ScienceDirect Required
Klemm, K., V.M. Eguíluz, R. Toral & M.S. Miguel (2005)

Economic Geography: Real or Hype?
Koo, J. & S.V. Lall (2004)

Agglomeration and Welfare: The Core-Periphery Model in the Light of Bentham, Kaldor and Rawls | Published   ScienceDirect Required
Charlot, S., C. Gaigne, F.L. Robert-Nicoud & J-F. Thisse (2004/05)

Location of vertically linked industries: agglomeration versus comparative advantage   ScienceDirect Required
Amiti, M. (2005)

Dynamic Cities and Creative Clusters
Wu, W. (2005)

A Simple Model of Economic Geography a la Helpman-Tabuchi
Murata, Y. & J-F. Thisse (2005)

Market potential, increasing returns and geographic concentration   ScienceDirect Required
Hanson, G.H. (2005)

Agglomeration and the Adjustment of the Spatial Economy
Combes, P-P., G. Duranton & H.G. Overman (2005)

Heterogeneous Firms, Agglomeration and Economic Geography: Spatial Selection and Sorting
Baldwin, R. & T. Okubo (2005)

Trade and industrial location with heterogeneous labor   ScienceDirect Required
Amiti, M. & C.A. Pissarides (2005)

Cities and Countries   Recommended!
Rose, A.K. (2005)

Abstract: If one ranks cities by population, the rank of a city is inversely related to its size, a well-documented phenomenon known as Zipf's Law. Further, the growth rate of a city's population is uncorrelated with its size, another well-known characteristic known as Gibrat's Law. In this paper, I show that both characteristics are true of countries as well as cities; the size distributions of cities and countries are similar. But theories that explain the size-distribution of cities do not obviously apply in explaining the size-distribution of countries. The similarity of city- and country-size distributions is an interesting riddle.

Putting New Economic Geography to the Test: Free-ness of Trade and Agglomeration in the EU Region   Acrobat Required
Brakman, S., H. Garrettsen & M. Schramm (2005)

Size Really Doesn't Matter: In Search of a National Scale Effect
Rose, A.K. (2006)

Urban Extremism   Acrobat Required
Brueckner, J.K. & A. Glazer (2006)

Globalization and the Evolution of the Supply Chain: Who Gains and Who Loses?   Wiley Interscience Required
Fujita, M. & J-F. Thisse (2006)

R&D and Strategic Industrial Location in International Oligopolies
Pires, A.J.G. (2006)

Agglomeration and Aid   Acrobat Required
Brakman, S., H. Garretsen & C. van Marrewijk (2006)

Firm location decisions, regional grants and agglomeration externalities   ScienceDirect Required
Devereux, M.P., R. Griffith & H. Simpson (2007)

Trade and the location of industries: Some new results   ScienceDirect Required
Laussel, D. & T. Paul (2007)

Adding Geography to the New Economic Geography   Acrobat Required
Bosker, M., S. Brakman, H. Garretsen & M. Schramm (2007)

Trade Costs, Market Access and Economic Geography: Why the Empirical Specification of Trade Costs Matters   Acrobat Required
Bosker, M. & H. Garretsen (2007)

Explaining the size distribution of cities: X-treme economies   Acrobat Required
Berliant, M. & H. Watanabe (2007)

Estimating Agglomeration Economies with History, Geology, and Worker Effects
Combes, P-P., G. Duranton, L. Gobillon & S. Roux (2008)

Economic Linkages Across Space
Overman, H.G., P. Rice & A.J. Venables (2008)

Exporting, productivity and agglomeration   ScienceDirect Required
Greenaway, D. & R. Kneller (2008)

Agglomeration and Growth: Cross-Country Evidence   Acrobat Required
Brulhart, M. & F. Sbergami (2008)

Agglomeration and Growth: Cross-Country Evidence
Brülhart, M. & F. Sbergami (2008)

Labour Pooling As a Source of Agglomeration: An Empirical Investigation
Overman, H.G. & D. Puga (2009)

Economic Geography: a Review of the Theoretical and Empirical Literature   REVIEW PAPER
Redding, S.J. (2009)

A Model of International Cities: Implications for Real Exchange Rates
Crucini, M.J. & H. Yilmazkuday (2009)

Tale of Two Ports: The Economic Geography of Inter-City Rivalry   Wiley Interscience Required
Long, N.V. & K-Y. Wong (2009)

Tax reform, delocation and heterogeneous firms
Baldwin, R. & T. Okubo (2009)

Spatial Development | Published
Desmet, K. & E. Rossi-Hansberg (2009/14)

Clusters of Entrepreneurship
Glaeser, E.L., W.R. Kerr & G.A.M. Ponzetto (2009)

The Area and Population of Cities: New Insights from a Different Perspective on Cities
Rozenfeld, H.D., D. Rybski, X. Gabaix & H.A. Makse (2009)

Competition for FDI with vintage investment and agglomeration advantages   ScienceDirect Required
Konrad, K.A. & D. Kovenock (2009)

The Global Networks of Multinational Firms
Alfaro, L. & M. Chen (2009)

Macroeconomic implications of agglomeration | Published   Acrobat Required
Davis, M.A., J.D.M. Fisher & T.M. Whited (2010/14)

The Wealth and Poverty of Regions
Polese, M. (2010)

Identifying Agglomeration Spillovers: Evidence from Winners and Losers of Large Plant Openings
Greenstone, M., R. Hornbeck & E. Moretti (2010)

What Causes Industry Agglomeration? Evidence from Coagglomeration Patterns
Ellison, G., E.L. Glaeser & W.R. Kerr (2010)

Productive cities: Sorting, selection and agglomeration | Published   JSTOR Required
Behrens, K., G. Duranton & F. Robert-Nicoud (2010/14)

A Calibrated Trade Model of Agglomeration   Wiley Interscience Required
Friesen, P. & S. Kosempel (2010)

The Changing Incidence of Geography
Anderson, J.E. & Y.V. Yotov (2010)

Trade Costs and Economic Development   Acrobat Required
Fratianni, M. & F. Marchionne (2010)

Local politics and economic geography
Berliant, M. & T. Tabuchi (2011)

Search Unemployment and New Economic Geography   Acrobat Required
vom Berge, P. (2011)

The spatial origin of commerce   Wiley Interscience Required
Tse, C-Y. (2011)

Is New Economic Geography Right? Evidence from Price Data
Handbury, J. & D.E. Weinstein (2011)

The Effect of Agglomeration Size on Local Taxes
Luthi, E. & K. Schmidheiny (2011)

A Many-Country Model of Industrialization
Breinlich, H. & A. Cuńat (2011)

A Cluster-Based Industrial Development Policy for Low-Income Countries
Otsuka, K. & T. Sonobe (2011)

Spatial frictions
Behrens, K., G. Mion, Y. Murata & J. Südekum (2011)

Trade Liberalization and Technology Diffusion   Wiley Interscience Required
Hafner, K.A. (2011)

Internal Geography and External Trade: regional disparities in Italy, 1861-2011
A'Hearn, B. & A.J. Venables (2011)

Transportation, freight rates, and economic geography   ScienceDirect Required
Behrens, K. & P.M. Picard (2011)

Do Agglomeration Economies Reduce the Sensitivity of Firm Location to Tax Differentials?   Wiley Interscience Required
Brülhart, M., M. Jametti & K. Schmidheiny (2012)

Country Size, Technology and Manufacturing Location   Wiley Interscience Required
Handley, K. (2012)

Labor Differentiation and Agglomeration in General Equilibrium
Berliant, M. & Y. Zenou (2012)

Spatial period-doubling agglomeration of a core–periphery model with a system of cities   ScienceDirect Required
Ikeda, K., T. Akamatsu & T. Kono (2012)

Growth effects of spatial redistribution policies   ScienceDirect Required
Arcalean, C., G. Glomm & I. Schiopu (2012)

A Spatial Knowledge Economy
Davis, D.R. & J.I. Dingel (2012)

Agglomeration,Trade and Selection
Ottaviano, G. (2012)

Optimal Agglomerations in Dynamic Economics   Acrobat Required
Brock, W.A., A. Xepapadeas & A.N. Yannacopoulos (2012)

The Territorial Dynamics Of Innovation In China And India
Crescenzi, R., A. Rodríguez-Pose & M. Storper (2012)

Growth, agglomeration, and urban congestion   ScienceDirect Required
Fujishima, S. (2013)

Spiders and snakes: Offshoring and agglomeration in the global economy   ScienceDirect Required
Baldwin, R. & A.J. Venables (2013)

Local Economic Development, Agglomeration Economies, and the Big Push: 100 Years of Evidence from the Tennessee Valley Authority
Kline, P.M. & E. Moretti (2013)

The natural Resource Curse, Fiscal Decentralization, and Agglomeration Economies   Acrobat Required
Perez-Sebastian, F. & O. Raveh (2013)

Migration modelling in the New Economic Geography   ScienceDirect Required
Camacho, C. (2013)

Internal Geography, International Trade, and Regional Specialization | Published
Cosar, A.K. & P.D. Fajgelbaum (2013/16)

Competition in the traditional sector does not matter for the 'Core-Periphery' model   ScienceDirect Required
Behrens, K., S. Kichko & E. Zhelobodko (2013)

Self-organization of hexagonal agglomeration patterns in new economic geography models   ScienceDirect Required
Ikeda, K., K. Murota, T. Akamatsu, T. Kono & Y. Takayama (2014)

Patterns of technology, industry concentration, and productivity growth without scale effects   ScienceDirect Required
Davis, C. & K-i. Hashimoto (2014)

Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines   MIT Press Subscription Required
Glaeser, E.L., S.P. Kerr & W.R. Kerr (2014)

Spatial externalities and agglomeration in a competitive industry   ScienceDirect Required
Brock, W.A., A. Xepapadeas & A.N. Yannacopoulos (2014)

Optimal Agglomerations in Dynamic Economics   Acrobat Required
Brock, W., A. Xepapadeas & A. Yannacopoulos (2014)

An Alternative Theory of the Plant Size Distribution, with Geography and Intra- and International Trade   JSTOR Required
Holmes, T.J. & J.J. Stevens (2014)

Technological Progress and Economic Geography
Tabuchi, T., J-F. Thisse & X. Zhu (2014)

Transportation Costs and the Spatial Organization of Economic Activity   Acrobat Required
Redding, S.J. & M.A. Turner (2014)

Urbanization and the Geography of Development
Hendersonm, J.V. (2014)

Economic Geography, Endogenous Fertility, and Agglomeration   Acrobat Required
Morita, T. & K. Yamamoto (2014)

Borders, Geography, and Oligopoly: Evidence from the Wind Turbine Industry   MIT Press Subscription Required
Cosar, A.K., P.L.E. Grieco & F. Tintelnot (2014)

Agglomerative Forces and Cluster Shapes   MIT Press Subscription Required
Kerr, W.R. & S.D. Kominers (2014)

Creative Destruction: Barriers to Urban Growth and the Great Boston Fire of 1872 | Published
Hornbeck, R. & D. Keniston (2014/17)

Coagglomeration, Clusters, and the Scale and Composition of Cities   JSTOR Required
Helsley, R.W. & W.C. Strange (2014)

The Comparative Advantage of Cities
Davis, D.R. & J.I. Dingel (2014)

Do the world's largest cities follow Zipf's and Gibrat's laws?   ScienceDirect Required
Luckstead, J. & S. Devadoss (2014)

Modeling regional economic dynamics: Spatial dependence, spatial heterogeneity and nonlinearities   ScienceDirect Required
Basile, R., M. Durbán, R. Mínguez, J.M. Montero & J. Mur (2014)

Regional integration, international liberalisation and the dynamics of industrial agglomeration   ScienceDirect Required
Commendatore, P., I. Kubin, C. Petraglia & I. Sushko (2014)

Spatial takeoff in the first industrial revolution   ScienceDirect Required
Trew, A. (2014)

The global agglomeration of multinational firms   ScienceDirect Required
Alfaro, L. & M.X. Chen (2014)

The Geography of Development within Countries
Desmet, K. & J.V. Henderson (2014)

Production Networks, Geography and Firm Performance
Bernard, A.B., A. Moxnes & Y.U. Saito (2015)

The Geography of Development: Evaluating Migration Restrictions and Coastal Flooding
Desmet, K., D.K. Nagy & E. Rossi-Hansberg (2015)

Coping with inefficiencies in a New Economic Geography model: The unintended consequences of policy interventions   ScienceDirect Required
Grafeneder-Weissteiner, T., I. Kubin, K. Prettner, A. Prskawetz & S. Wrzaczek (2015)

Geography and Demography: New Economic Geography with Endogenous Fertility   Acrobat Required
Goto, H. & K. Minamimura (2015)

Geographic Dispersion of Economic Shocks: Evidence from the Fracking Revolution | Published
Feyrer, J., E.T. Mansur & B. Sacerdote (2015/17)

Shaking up the Equilibrium: Natural Disasters, Immigration and Economic Geography   Acrobat Required
Ager, P., C.W. Hansen & L. Lřnstrup (2015)

The Role of Economic Geography in Subnational African Development   Acrobat Required
Seiffert, S. (2015)

Endogenous Infrastructure Development and Spatial Takeoff   Acrobat Required
Trew, A. (2016)

The Global Spatial Distribution of Economic Activity: Nature, History, and the Role of Trade
Henderson, J.V., A. Storeygard, T.L. Squires & D.N. Weil (2016)

Industry Clustering and Financial Constraints: A Reinterpretation Based on Fixed Asset Liquidation
Mao, R. (2016)

Estimating Border Effects: The Impact of Spatial Aggregation
Coughlin, C.C. & D. Novy (2016)

Heterogeneous Agglomeration   MIT Press Subscription Required
Faggio, G., O. Silva & W.C. Strange (2016)

Which Agglomeration Externalities Matter Most and Why?   Wiley Interscience Required   SURVEY PAPER
de Groot, H.L.F., J. Poot & M.J. Smit (2016)

Zoning and the Economic Geography of Cities
Shertzer, A., T. Twinam & R.P. Walsh (2016)

Quantitative Spatial Economics   SURVEY PAPER
Redding, S.J. & E. Rossi-Hansberg (2016)

Long-Range Growth: Economic Development in the Global Network of Air Links
Campante, F. & D. Yanagizawa-Drott (2016)

Resetting the Urban Network: 117-2012   Wiley Interscience Required
Michaels, G. & F. Rauch (2016)

The Optimal Distribution of Population across Cities
Albouy, D., K. Behrens, F. Robert-Nicoud & N. Seegert (2016)

Growth Policy, Agglomeration, and (the Lack of) Competition
Brooks, W.J., J.P. Kaboski & Y.A. Li (2016)

On the Geography of Global Value Chains
de Gortari, A. & P. Antras (2017)

Breaking into Tradables: Urban Form and Urban Function in a Developing City   ScienceDirect Required
Venables, A.J. (2017)

Heterogeneous Agglomeration   MIT Press Subscription Required
Faggio, G., O. Silva & W.C. Strange (2017)

Brexit: Trade Governance and Legal Implications for Third Countries
Molinuevo, M. (2017)

Jewish communities and city growth in preindustrial Europe   ScienceDirect Required
Johnson, N.D. & M. Koyama (2017)

Growth and Agglomeration in the Heterogeneous Space: A Generalized AK Approach   Acrobat Required
Boucekkine, R., G. Fabri, S. Federico & F. Gozzi (2017)

Historical urban growth in Europe (1300-1800)   Acrobat Required
Rafael, G-V. (2017)

On the new economic geography of a multicone world   Wiley Interscience Required
Commendatore, P., I. Kubin & P. Mossay (2017)

In Search of a Spatial Equilibrium in the Developing World
Gollin, D., M. Kirchberger & D. Lagakos (2017)

Big or small cities? On city size and economic growth
Frick, S.A. & A. Rodríguez-Pose (2017)

Spatial Patterns of Development: A Meso Approach
Michalopoulos, S. & E. Papaioannou (2017)

The Global Distribution of Economic Activity: Nature, History, and the Role of Trade   Oxford Journals Required
Henderson, J.V., T. Squires, A. Storeygard & D. Weil (2018)

Dutch Disease or Agglomeration? The Local Economic Effects of Natural Resource Booms in Modern America   Oxford Journals Required
Allcott, H. & D. Keniston (2018)

The Geography of Talent: Development Implications and Long-Run Prospects   Acrobat Required
Burzynski, M., C. Deuster & F. Docquier (2018)

Economic corridors and regional development: The Malaysian experience   ScienceDirect Required
Athukorala, P-C. & S. Narayanan (2018)

Regional Economic Development in Europe, 1900-2010: a description of the Patterns
Rosés, J.R. & N. Wolf (2018)

Growth and agglomeration in the heterogeneous space: A generalized AK approach   Acrobat Required
Boucekkine, R., G. Fabbri, S. Federico & F. Gozzi (2018)

Firm Sorting and Agglomeration
Gaubert, C. (2018)

Do special economic zones induce developmental spillovers? Evidence from India's states   ScienceDirect Required
Alkon, M. (2018)

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