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Rose effect and the euro: is the magic gone?
[Zeitschriftenartikel]
Abstract
This paper presents an updated meta-analysis of the effect of currency unions on trade, focusing on the euro area. Using meta-regression methods such as the funnel asymmetry test, evidence for strong publication bias is found. The estimated underlying effect for currency unions other than the eurozo... mehr
This paper presents an updated meta-analysis of the effect of currency unions on trade, focusing on the euro area. Using meta-regression methods such as the funnel asymmetry test, evidence for strong publication bias is found. The estimated underlying effect for currency unions other than the eurozone reaches more than 60%. However, according to the meta-regression analysis, the euro’s trade promoting effect corrected for publication bias is insignificant. The Rose effect literature shows signs of the economics research cycle: reported t-statistic is a quadratic concave function of the publication year. Explanatory meta-regression (robust fixed effects and random effects), that can explain about 70% of the heterogeneity in the literature, suggests that results published by some authors might consistently differ from the mainstream output and that study outcomes are systematically dependent on study design (usage of panel data, short- or long-run nature, number of countries in the data set).... weniger
Thesaurusschlagwörter
Währungsunion; Euro
Klassifikation
Wirtschaftsstatistik, Ökonometrie, Wirtschaftsinformatik
Volkswirtschaftslehre
Freie Schlagwörter
Rose effect; Trade; Currency union; Meta-analysis; Publication bias; C42; F15; F33; Außenhandelseffekt; Publikationsanalyse; Meta-Analyse
Sprache Dokument
Englisch
Publikationsjahr
2010
Seitenangabe
S. 241-261
Zeitschriftentitel
Review of World Economics, 146 (2010) 2
DOI
https://doi.org/10.1007/s10290-010-0050-1
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)