What kind of region reaps the benefits of a currency union?

IF 3.2 3区 经济学 Q1 ECONOMICS
Augusto Cerqua, Roberta Di Stefano, Guido Pellegrini
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引用次数: 0

Abstract

What is the economic impact of joining a currency union? Is this impact heterogeneous across regions? And how does it change in case of a recession? We answer these questions by investigating the economic impact of joining the euro area for the latecomers, that is, the eastern European countries that adopted the euro after 2002. Differently from previous literature, we use NUTS-2 regions as units of analysis. This novelty allows us to investigate the theoretical predictions of a currency union impact at a more appropriate geographical level. Using a recently developed counterfactual approach, we estimate the overall as well as the disaggregated impact of joining the euro area. We find that the adoption of the euro brought about a small positive effect, which was, however, dampened by the Great Recession. Individual regional estimates suggest heterogeneous returns with benefits accruing mostly to core regions.

什么样的地区可以从货币联盟中获益?
加入货币联盟的经济影响是什么?这种影响在不同地区是不同的吗?在经济衰退的情况下,它又会如何变化呢?我们通过调查加入欧元区对后来者的经济影响来回答这些问题
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来源期刊
CiteScore
4.90
自引率
6.70%
发文量
54
期刊介绍: The Journal of Regional Science (JRS) publishes original analytical research at the intersection of economics and quantitative geography. Since 1958, the JRS has published leading contributions to urban and regional thought including rigorous methodological contributions and seminal theoretical pieces. The JRS is one of the most highly cited journals in urban and regional research, planning, geography, and the environment. The JRS publishes work that advances our understanding of the geographic dimensions of urban and regional economies, human settlements, and policies related to cities and regions.
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