Book

Of markets, products and prices- the effects of the euro on European firms

Publishing date
09 February 2009

In this Blueprint, Lionel Fontagné, Thierry Mayer and Gianmarco Ottaviano, show that trade flows have not increased meaningfully since the introduction of the euro. However, trade volume can be a misleading yardstick. Other obstacles – be it differences in regulation, legal framework, taxes or language – are significant enough to continue to act as binding constraints on internationalisation. In terms of prices, the authors find that the euro has resulted in less volatile and lower prices, especially within the euro area, and this is a clear plus for consumers.

About the authors

  • Gianmarco Ottaviano

    Gianmarco Ottaviano, Professor of International Economics at the London School of Economics and Political Science, UK, joined Bruegel as a Non-Resident Senior Fellow in September 2006. His research is mainly focused on spatial economics, international trade, development and growth, capital movements and multinationals. At Bruegel he coordinates the project European Firms in a Global Economy (EFIGE).
    After obtaining a Ph.D. in Economics from the Université Catholique de Louvain, he held teaching positions in Italy, Belgium, and Switzerland. He is affiliated with the Centre for Economic Policy Research (CEPR) in London and is a member of the Editorial Board of the Journal of Economic Geography.

  • Thierry Mayer

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