Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union

Although entering currency (and customs) unions involve both costs and benefits, an increasing body of research is finding that the benefits--in terms of international trade creation--are remarkably large. Focusing simply on the European Monetary Union (EMU) rather than the broad range of currency u...

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Bibliographic Details
Main Authors: Francis Breedon, Thórarinn G. Pétursson
Format: Article in Journal/Newspaper
Language:unknown
Subjects:
Iceland
Online Access:http://hdl.handle.net/10.1093/cje/bei105
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spelling ftrepec:oai:RePEc:oup:cambje:v:30:y:2006:i:5:p:723-736 2024-04-14T08:13:38+00:00 Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union Francis Breedon Thórarinn G. Pétursson http://hdl.handle.net/10.1093/cje/bei105 unknown http://hdl.handle.net/10.1093/cje/bei105 article ftrepec 2024-03-19T10:31:58Z Although entering currency (and customs) unions involve both costs and benefits, an increasing body of research is finding that the benefits--in terms of international trade creation--are remarkably large. Focusing simply on the European Monetary Union (EMU) rather than the broad range of currency unions studied by other authors, we find that the trade impact of EMU is smaller, but still substantial. Our findings suggest that the Iceland's trade could increase by about 60% and that the trade-to-GDP ratio could rise by 12 percentage points should Iceland join the European Union and EMU. Copyright 2006, Oxford University Press. Article in Journal/Newspaper Iceland RePEc (Research Papers in Economics)
institution Open Polar
collection RePEc (Research Papers in Economics)
op_collection_id ftrepec
language unknown
description Although entering currency (and customs) unions involve both costs and benefits, an increasing body of research is finding that the benefits--in terms of international trade creation--are remarkably large. Focusing simply on the European Monetary Union (EMU) rather than the broad range of currency unions studied by other authors, we find that the trade impact of EMU is smaller, but still substantial. Our findings suggest that the Iceland's trade could increase by about 60% and that the trade-to-GDP ratio could rise by 12 percentage points should Iceland join the European Union and EMU. Copyright 2006, Oxford University Press.
format Article in Journal/Newspaper
author Francis Breedon
Thórarinn G. Pétursson
spellingShingle Francis Breedon
Thórarinn G. Pétursson
Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union
author_facet Francis Breedon
Thórarinn G. Pétursson
author_sort Francis Breedon
title Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union
title_short Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union
title_full Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union
title_fullStr Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union
title_full_unstemmed Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union
title_sort out in the cold? iceland's trade performance outside the european union and european monetary union
url http://hdl.handle.net/10.1093/cje/bei105
genre Iceland
genre_facet Iceland
op_relation http://hdl.handle.net/10.1093/cje/bei105
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