Winners and losers from the €uro

The Effects of the Economic Adjustment Programmes for Greece: A Quasi-Experimental Approach

“…The SCM is especially suitable for estimating the impact of an intervention or treatment that affects a unit or a small number of units, such as regions or countries, at an aggregate level [33]. Recent examples where SCM was used for estimating the causal impact on issues relating to European integration include Puzzello and Gomis-Porqueras [34] concerning the Euro, Born et al [35] on Brexit, and Campos, Coricelli, and Moretti [36] on the integration of new members.…”

Adopting the Euro: A Synthetic Control Approach

“…Yet, the donor pool selection should try to accommodate this need. Unlike Puzzello and Gomis-Porqueras (2018) and Gasparotti and Kullas (2019), we ensure that the donor countries can resemble the level of economic and social development of the treated units by using only OECD economies in our baseline estimates. It is important to "restrict the donor pool to units with outcomes that are thought to be driven by the structural process as for the unit representing the case of interest" (Abadie et al, 2015).…”

“…For all countries the analysis starts in 1970 and ends in 2007. This date is particularly useful to analyze because it is the one used by Puzzello and Gomis-Porqueras (2018). The reasons on why we do not use it are explained in the main text with the most compelling being that Austria and Finland are being analyzed in our work but they joined the EU in 1995.…”

What has New Zealand gained from The FTA with China?: Two counterfactual analyses†

“…Since its introduction, the SCM has seen a range of applications in economics, political science, and international relations. 10 In the words of Athey and Imbens 10 Examples of such applications include openness and trade liberalization policies (Nannicini and Billmeier, 2011;Billmeier and Nannicini, 2013;Ritzel and Kohler, 2017), impact of trade agreements (Hosny, 2012;Hannan, 2016Hannan, , 2017Aytuğ et al, 2017), impact of joining a currency union (Saia, 2017;Puzzello and Gomis-Porqueras, 2018), economic regimes/political stability (Matta et al, 2019;Jales et al, 2018;Grier and Maynard, 2016;Meyersson, 2017), natural disasters (Coffman and Noy, 2012;Cavallo et al, 2013;Mideksa, 2013;Barone and Mocetti, 2014;Mohan, 2017), terrorism, civil wars, crime, and political risks (Montalvo, 2011;Pinotti, 2015;Singhal and Nilakantan, 2016;Bilgel and Karahasan, 2017;Bove et al, 2017;Costalli et al, 2017;Bove and Elia, 2018), health economics (Bilgel and Galle, 2015;Kreif et al, 2016), economic sanctions (Gharehgozli, 2017), migration (Powell et al, 2017), and natural resource discoveries (Smith, 2015). (2017, p. 9), the synthetic control approach is "arguably the most important innovation in the policy evaluation literature in the last 15 years.…”