Many procedures have been developed that are suited to testing for multiple changes in parameters of regression models which occur at unknown times. Most notably, Brown, Durbin and Evans [11] and Dufour [15], have developed or extended existing techniques, but said extensions lack power for...

Summary We show that monetary union can enhance price stability for its member countries even if none of them has a long history of stable prices and independent monetary policy, as is the case in a number of monetary union initiatives among developing countries. The positive effect obtains...

Overlaps in membership of monetary integration initiatives in the Eastern and Southern Africa (ESA) region is a major stumbling block to deeper integration. For example, a strict implementation of the East African Community (EAC) customs union concluded in 2004 would violate existing Common...

A long-term objective of the East Africa Community treaty is to form a monetary union. This paper tests the viability of this proposal using a model of government finance that minimizes the social cost of financing government expenditure. The results indicate that the policies of these countries...

Public attitude towards monetary union is influenced by a broad set of considerations; some well beyond the realm of economics. This paper investigates the public's fear of exclusion and its impact on their support for multilateral monetary union. Using survey data from the East African...

Public attitude towards monetary union is influenced by a broad set of considerations; some well beyond the realm of economics. This paper investigates the public's fear of exclusion and its impact on their support for multilateral monetary union. Using survey data from the East African...

Public support is crucial for the success of a monetary union. An aspect of the monetary unification process that could influence public support is how the decision to participate is made. This article analyzes the determinants of the public's preference for a referendum on the adoption of a...