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Trade invoicing in the accession countries : are they suited to the euro? / Linda Goldberg

Author
Goldberg, Linda S.
Published
Cambridge, Mass. : National Bureau of Economic Research, [2005]
Copyright Date
©2005
Physical Description
40 pages : illustrations ; 22 cm.
Additional Creators
National Bureau of Economic Research
Online Version

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Summary
"The accession countries to the euro area are increasingly binding their economic activity, external and internal, to the euro area countries. One aspect of this phenomenon concerns the currency invoicing of international trade transactions, where accession countries have reduced their use of the US dollar in invoicing international trade transactions. Theory predicts that the optimal invoicing choices for accession countries depend on the composition of goods in exports and imports and on the macroeconomic fluctuations of trade partners, both bearing on the role of herding and hedging considerations within exporter profitability. These considerations yield country-specific estimates about the degree of euro-denominated invoicing of exports. I find that the exporters of some accession countries, even in their trade transactions with the euro zone and other European Union countries, might be pricing too much of their trade in euros rather than in dollars, thus taking on excessive risk in international markets"--National Bureau of Economic Research web site.
Subject(s)
Note
"September 2005."
Bibliography Note
Includes bibliographical references (pages 34-35).
Other Forms
Also available in PDF from the NBER world wide web site (www.nber.org).
View MARC record | catkey: 3018224