Disaggregated trade and disaggregated currency unions: a ranking of common currency effects
利用部门特定引力模型，研究分解贸易能否可靠估计共同货币对贸易的影响，发现仅分解贸易不够，但分解货币联盟并估计个体效应可得到可靠的排序，且排序因部门而异。
Andrew Rose has long argued that a common currency has a large effect on increasing trade. Recently, Rose has called into question the reliability of this conclusion, as new techniques have emerged for estimating gravity equations. This article uses the sector-specific gravity model developed by Anderson and Yotov (2010a) to investigate if disaggregated trade can provide a reliable estimate of a common currency's effect. Disaggregating trade alone is insufficient to obtain a reliable estimate of a currency union, regardless of econometric technique, when the effect of a common currency on trade is uniform across all unions. Disaggregating the universe of currency unions with individual effects provides a reliable ranking of currency unions, independent of estimation method, by the effect that each union's currency has on increasing trade. These rankings differ across sectors.