Australasian union could see trade double - paper

AUSTRALIA - Australia could enjoy a doubling in trade with New Zealand if the two countries embarked on a path of currency union, a discussion paper presented to a Reserve Bank of Australia conference on 24 July concluded.

The paper, written by Andrew Coleman of the University of Michigan, said currency union would raise the incomes of both countries, and while there might initially be winners and losers, it would lead to savings on foreign exchange costs.

Companies in both countries would also