Data from 19 African nations is used to investigate the hypothesis that monetary union-represented in this case by the CFA Franc Zone-augments the extent of macroeconomic integration. The paper covers two key dimensions of integration: the volume of bilateral trade, and the magnitude of...

In this paper, the author considers a proposed method for testing for the presence of "Keynesian" rigidities in the wage adjustment process, but illustrates that, if any other factors exist that may cause noninstantaneous wage adjustment, then this method cannot be applied. Further, he presents...