The Euro's Effects on Trade in a Dynamic Setting (Report‪)‬

Introduction The argument that the euro has brought both benefits and costs, in economic terms, to the countries that gave up their currencies (and their independent monetary policies) to adopt the single currency in 1999 should by now be clear even to the layman. Yet, while indicating the main advantages (related to the positive consequences of deeper market integration) and disadvantages (the one-size-fits-all monetary policy applied to a set of still heterogeneous economies) may be relatively easy, drawing a balance between them is a much more demanding exercise.