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| HAL : halshs-00464213, version 1 |
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| The Welfare Gains of Trade Integration in the European Monetary Union |
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| Stéphane Auray 1Aurélien Eyquem 2 |
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| (2009) |
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| This paper evaluates the welfare gains arising from a deeper trade integration in the European Monetary Union. To do this, the European Monetary Union is represented in a realistic way by an intertemporal general equilibrium model with incomplete financial markets, sticky prices and home bias both in private consumption and production. The model is estimated and globally not rejected by the data. Two main results emerge : (i) an increase in vertical (intermediate goods) trade implies welfare gains while (ii) an increase in horizontal trade implies welfare losses. |
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| 1 : | ECONOMIE QUANTITATIVE, INTEGRATION, POLITIQUES PUBLIQUES ET ECONOMETRIE (EQUIPPE) |
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Université Lille I - Sciences et technologies |
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| 2 : | Groupe d'analyse et de théorie économique (GATE Lyon Saint-Etienne) |
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CNRS : UMR5824 – Université Lumière - Lyon II – École Normale Supérieure - Lyon |
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| 3 : | Centre de Recherche en Economie et Management (CREM) |
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CNRS : UMR6211 – Université de Rennes 1 – Université de Caen Basse-Normandie |
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| Discipline | : | Sciences de l'Homme et Société/Economie et finances |
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| trade integration – inflation differentials – welfare analysis – optimal currency areas |
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| Liste des fichiers attachés à ce document : | |||||
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| halshs-00464213, version 1 | |
| http://halshs.archives-ouvertes.fr/halshs-00464213 | |
| oai:halshs.archives-ouvertes.fr:halshs-00464213 | |
| Contributeur : Nelly Wirth | |
| Soumis le : Mardi 16 Mars 2010, 14:30:46 | |
| Dernière modification le : Mardi 16 Mars 2010, 16:27:57 | |
