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Of markets, products and prices: The effects of the euro on European firms

Author

Listed:
  • Lionel Fontagné

    () (CEPII - Centre d'Etudes Prospectives et d'Informations Internationales - Centre d'analyse stratégique, PSE - Paris School of Economics, CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Thierry Mayer

    (CEPR - Center for Economic Policy Research - CEPR, CEPII - Centre d'Etudes Prospectives et d'Informations Internationales - Centre d'analyse stratégique, PSE - Paris School of Economics, CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Gianmarco Ottaviano

    (UNIBO - Università di Bologna [Bologna])

Abstract

The introduction of the euro was initially expected to boost trade by an enormous percentage. Following many downward revisions of original estimates the current consensus estimate amounts to an increase of about 5 per cent. In view of the initial high expectations this is often seen as a dismal result. It is, however, based on aggregate data and may therefore hide important microeconomic gains that arise even for a given level of trade fl ows. This paper uses detailed product and fi rm level data to shed light on these hidden gains.

Suggested Citation

  • Lionel Fontagné & Thierry Mayer & Gianmarco Ottaviano, 2009. "Of markets, products and prices: The effects of the euro on European firms," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00639837, HAL.
  • Handle: RePEc:hal:cesptp:hal-00639837
    DOI: 10.1007/s10272-009-0289-8
    Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00639837
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    Cited by:

    1. Piotr Gabrielczak & Tomasz Serwach, 2017. "Does the euro increase the complexity of exported goods? The case of Estonia," Lodz Economics Working Papers 4/2017, University of Lodz, Faculty of Economics and Sociology.
    2. Piotr Gabrielczak & Tomasz Serwach, 2017. "The impact of the euro adoption on the complexity of goods in Slovenian exports," Lodz Economics Working Papers 3/2017, University of Lodz, Faculty of Economics and Sociology.
    3. Mariam Camarero & Estrella Gómez-Herrera & Cecilio Tamarit, 2018. "New Evidence on Trade and FDI: how Large is the Euro Effect?," Open Economies Review, Springer, vol. 29(2), pages 451-467, April.
    4. Knobel, A. & Mironov, A., 2015. "Assessment of CIS Countries Readiness for Creation of Currency Union," Journal of the New Economic Association, New Economic Association, vol. 25(1), pages 76-101.
    5. Filippo Cesarano, 2011. "The Political and Economic Dimension of Monetary Unions," Open Economies Review, Springer, vol. 22(5), pages 985-996, November.
    6. Cieślik Andrzej & Michałek Jan & Michałek Anna, 2014. "Does the Common Currency Increase Exports? Evidence from Firm-Level Data," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 41(1), pages 8-22, March.
    7. Hogrefe, Jan & Jung, Benjamin & Kohler, Wilhelm K., 2010. "Readdressing the trade effect of the Euro: Allowing for currency misalignment," ZEW Discussion Papers 10-023, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    8. Andrzej Cieslik & Jan Michalek & Anna Michalek, 2013. "The Impact Of The Common Currency On Exports Of New Emu Members: Firm-Level Evidence For Slovenia And Slovakia," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 8(4), pages 7-23, December.
    9. repec:rfe:zbefri:v:35:y:2017:i:1:p:45-71 is not listed on IDEAS
    10. Martin, Julien & Mejean, Isabelle, 2013. "Price dispersion and the euro: Micro heterogeneity and macro implications," International Review of Economics & Finance, Elsevier, vol. 26(C), pages 70-86.
    11. Alexandra Hudson & Bas Straathof, 2010. "The Declining Impact of Exchange Rate Volatility on Trade," De Economist, Springer, vol. 158(4), pages 361-372, November.
    12. Harald Badinger & Kemal Türkcan, 2014. "Currency Unions, Export Margins, and Product Differentiation: An Empirical Assessment for European Monetary Union," Review of International Economics, Wiley Blackwell, vol. 22(1), pages 13-30, February.
    13. Gullstrand , Joakim & Olofsdotter, Karin, 2014. "The Euro Effect on Bystanders," Working Papers 2014:33, Lund University, Department of Economics.
    14. Lavinia Rotili, 2014. "The Euro effects on intermediate and final exports," Working Papers 7/14, Sapienza University of Rome, DISS.

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    Keywords

    euro;

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