Examples:
InnoDB : 50% slower.
MyISAM: 6X slower.
Conclusions:
- CHAR keys are indeed slower for joins compared to integer keys
- Performance degradation can range from few percent to couple of times for Innodb tables
- MyISAM Tables may suffer significantly if key compression is not disabled
- Joining on Shorter CHAR keys is significantly faster than Long keys
- Latin1 (I guess any simple encoding) is significantly faster for joins compared to UTF8
Details here
http://www.mysqlperformanceblog.com/2007/06/18/using-char-keys-for-joins-how-much-is-the-overhead/