Allegret, Jean-Pierre; Sand-Zantman, Alain - In: Revue de l'OFCE 101 (2007) 2, pp. 355-392
This paper studies the feasibility of a monetary union in Mercosur. A semi-structural VAR model is estimated for each country, including a set of international and domestic variables. The structural innovations generated by each country model are broken down into unobservable common and...