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dc.contributor.authorHONOHAN, PATRICK
dc.contributor.authorLEDDIN, ANTHONY
dc.date.accessioned2007-12-05T21:11:29Z
dc.date.available2007-12-05T21:11:29Z
dc.date.issued2006
dc.date.submitted2006en
dc.identifier.citationHonohan, Patrick and Anthony Leddin, Ireland in EMU: More Shocks, Less Insulation?, Economic and Social Review, 37, (2), 2006, 263-294en
dc.identifier.otherY
dc.identifier.otherYen
dc.identifier.urihttp://hdl.handle.net/2262/12479
dc.descriptionPUBLISHEDen
dc.description.abstractDespite anchoring the Irish monetary system to a single currency, EMU has triggered sizable exchange rate and especially interest rate shocks to the Irish economy (albeit not appreciably greater than under previous regimes). Interest rates have deviated widely from a standard Taylor rule would have counseled ? though again not by much more than in previous regimes. The biggest shock has been the sharp fall in nominal interest rates as EMU began. Through mechanisms which we formally model, this fall has had a lasting effect on property prices, construction activity and the capacity of the labour market to absorb immigration, but there has been a sharp deterioration in wage competitiveness since 2002.en
dc.format.extent263-294en
dc.format.extent394758 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.relation.ispartofseriesEconomic and Social Reviewen
dc.relation.ispartofseries37, 2en
dc.rightsYen
dc.subjectEconomicsen
dc.subjectIrelanden
dc.subjectEuropean Monetary Unionen
dc.subjectEMUen
dc.titleIreland in EMU: More Shocks, Less Insulation?en
dc.typeJournal Articleen
dc.type.supercollectionscholarly_publicationsen
dc.type.supercollectionrefereed_publicationsen
dc.identifier.peoplefinderurlhttp://people.tcd.ie/phonohan
dc.identifier.rssinternalid44339


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