Why currency unions don't necessarily mean more trade for everyone
A challenge to the view that currency unions have a homogeneous ‘one-size-fits-all’ effect on bilateral trade flows.
Dennis Novy is Associate Professor of Economics at the University of Warwick. He is also a Research Fellow at the Centre for Economic Policy Research (CEPR) and an Associate at the Centre for Economic Performance (CEP) at the London School of Economics. He received a PhD from the University of Cambridge and works in the fields of international trade, international economics and macroeconomics. Dennis has been a recent visitor at the Federal Reserve Bank of New York, the Federal Reserve Bank of St. Louis and the University of California, Davis. Dennis was the Specialist Adviser to the House of Lords for their inquiry into the Transatlantic Trade and Investment Partnership (TTIP).
A challenge to the view that currency unions have a homogeneous ‘one-size-fits-all’ effect on bilateral trade flows.
New research examines US trade flows to look at borders, trade and state size.