@techreport{NBERw8396,
 title = "Does a Currency Union Affect Trade? The Time Series Evidence",
 author = "Reuven Glick and Andrew K. Rose",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "8396",
 year = "2001",
 month = "July",
 URL = "http://www.nber.org/papers/w8396",
 abstract = {Does leaving a currency union reduce international trade? We answer this question using a large annual panel data set covering 217 countries from 1948 through 1997. During this sample a large number of countries left currency unions; they experienced economically and statistically significant declines in bilateral trade, after accounting for other factors. Assuming symmetry, we estimate that a pair of countries that starts to use a common currency experiences a doubling in bilateral trade.},
}