The consequences of the introduction of the euro: a nested mixed-effects analysis of the international banking positions |
| |
Authors: | Kazusuke Tsujimura Masako Tsujimura |
| |
Institution: | 1.Faculty of Economics,Keio University,Tokyo,Japan;2.Keio Economic Observatory,Keio University,Tokyo,Japan |
| |
Abstract: | In this paper, we will examine the effects of the launch of the euro from the perspective of the international banking positions
by a combination of the gravity model, widely used to explain the structure of world trade, and the mixed effects model, which
is a hybrid version of the fixed and random effects models of panel data analysis. The specification could be examined by
the likelihood ratio tests by decomposing the model into fixed and random effects elements. The empirical study indicates
that the new currency is certain to benefit the euro area, but the effects on the non-euro members of the EU are not as clear
as superficial analysis suggests. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|