Couharde, Cécile; Coulibaly, Issiaka; Damette, Olivier - In: Revue économique 63 (2012) 3, pp. 545-555
The aim of this paper is to analyse the adjustment process of real effective exchange rates towards their equilibrium level for the cfa zone countries over the period 1985-2007. Accordingly, we estimate a panel smooth transition error correction model in order to take into account non-linear...