Fielding, David; Lee, Kevin; Shields, Kalvinder - In: Journal of African Economies 13 (2004) 4, pp. 488-517
In this paper we fit a vector error correction model (VECM) in output and prices to data from 10 countries of the CFA Franc Zone. This model allows for various cross-country interactions in both the short run and the long run. The VECM parameters are used to estimate persistence profiles of...