Out in the cold? Iceland's trade performance outside the European Union and European Monetary Union
研究发现加入欧洲货币联盟对贸易的促进效果显著，若冰岛加入欧盟和欧洲货币联盟，其贸易额可能增长约60%，贸易占GDP比重上升12个百分点。
Although entering currency (and customs) unions involve both costs and benefits, an increasing body of research is finding that the benefits--in terms of international trade creation--are remarkably large. Focusing simply on the European Monetary Union (EMU) rather than the broad range of currency unions studied by other authors, we find that the trade impact of EMU is smaller, but still substantial. Our findings suggest that the Iceland's trade could increase by about 60% and that the trade-to-GDP ratio could rise by 12 percentage points should Iceland join the European Union and EMU. Copyright 2006, Oxford University Press.