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dc.contributor.authorHodson, Dermot
dc.date.accessioned2012-01-30T12:27:05Z
dc.date.available2012-01-30T12:27:05Z
dc.date.issued2003
dc.identifier.citationHodson, Dermot. 'The exchange rate as an adjustment mechanism: a structural VAR approach to the case of Ireland'. - Economic & Social Review, Vol. 34, No. 2, Summer/Autumn, 2003, pp. 151-172, Dublin: Economic & Social Research Institute
dc.identifier.issn0012-9984
dc.identifier.otherJEL E42
dc.identifier.otherJEL E61
dc.identifier.urihttp://hdl.handle.net/2262/61906
dc.description.abstractIreland?s participation in stage three of Economic and Monetary Union precludes exchange rate adjustment in response to asymmetric shocks. A Structural VAR model is used to decompose the effects of asymmetric supply, demand and nominal disturbances on macroeconomic imbalances between Ireland and the UK and on the Irish pound-sterling exchange rate. The results indicate that supply shocks account for a significant degree of the fluctuation in both variables. This lends weight to the view that the loss of autonomous control over the nominal exchange rate in the face of asymmetric shocks is a significant one, thus increasing the importance of alternative adjustment mechanisms for the Irish economy.en
dc.language.isoen
dc.publisherEconomic & Social Studies
dc.relation.ispartofVol.XX, No. XX, Issue, Year
dc.sourceEconomic & Social Reviewen
dc.subjectExchange ratesen
dc.subjectVector autoregressionen
dc.subjectQuantitative methodsen
dc.subjectIrelanden
dc.titleThe exchange rate as an adjustment mechanism: a structural VAR approach to the case of Ireland
dc.typeJournal Article
dc.publisher.placeDublinen


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