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Working paper
The European Single Market and Intra-EU Trade: An Assessment with Heterogeneity-Robust Difference-in-Differences Methods
06 May 2024
Abstract
We use heterogeneity-robust difference-in-differences (DiD) methods to evaluate the impact of membership in the European Union (EU) Single Market on international trade. On the policy front, we provide evidence that: (i) On average, the EU has been very effective in promoting trade among its member states; (ii) The trade effects of the EU have been long-lasting, but heterogeneous across EU cohorts; and (iii) While the EU has benefited both `old' and `new' members, the increase in the exports from the `old' members to the `new' joiners has been disproportionately larger. From a methods and practical perspective, the contribution of this paper is to introduce a new, fast, and flexible estimation command that combines leading estimation techniques from the gravity literature with recent methods from the heterogeneity-robust DiD literature.
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Details
- Title
- The European Single Market and Intra-EU Trade: An Assessment with Heterogeneity-Robust Difference-in-Differences Methods
- Creators
- Arne Nagengast - Deutsche BundesbankFernando Rios-Avila - Levy Economics Institute of Bard CollegeYoto V Yotov - Drexel University, Economics (School of Economics)
- Series
- School of Economics Working Paper Series; 2024-5
- Publisher
- LeBow College of Business, Drexel University; Philadelphia, PA
- Resource Type
- Working paper
- Language
- English
- Academic Unit
- Economics (School of Economics)
- Identifiers
- 991022025738204721