S. Fountas et K. Aristotelous, Has the European Monetary System led to more exports? Evidence from four European Union countries, ECON LETT, 62(3), 1999, pp. 357-363
We attempt to investigate whether the Exchange Rate Mechanism (ERM) period
has coincided with an increase in intra-EU exports. We conclude that this h
as not been the case but it is likely that the elimination of nominal excha
nge rate variability arising from a single currency will boost intra-Europe
an Union trade. (C) 1999 Elsevier Science S.A. Ah rights reserved.