Zhao, Xiaodan; Kim, Yoonbai - In: World Development 37 (2009) 12, pp. 1877-1886
Summary In this paper, we explore the features of the CFA franc zone and compare them to those of the Economic and Monetary Union (EMU) by operationalizing the criteria for an optimum currency area. A structural vector autoregression method is used in modeling national outputs as determined by...