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dc.contributor.authorLeddin, Anthony
dc.date.accessioned2014-04-23T16:10:34Z
dc.date.available2014-04-23T16:10:34Z
dc.date.issued1986
dc.identifier.citationAnthony Leddin, 'Portfolio equilibrium and monetary policy in Ireland', Economic and Social Research Institute, Economic and Social Review, Vol.17, No. 2, January, 1986, 1986, pp133-146
dc.identifier.issn0012-9984
dc.identifier.urihttp://hdl.handle.net/2262/68777
dc.description.abstractThe introduction of exchange controls in 1978 and the exchange rate uncertainty associated with Ireland's entry into the European Monetary System (EMS) in 1979 gave rise to the possibility of a reduction in the degree of capital mobility between Irish and foreign financial markets and as a consequence a greater autonomy in the conduct of Irish monetary policy. The purpose of this paper is to evaluate Irish monetary policy in terms of a pre- and post-EMS entry framework by estimating an adaptation of Kouri and Porter's (1974) portfolio balance model of an open economy. The principal finding is that the Central Bank has engaged in sterilisation policies since EMS entry but that this policy would prove ineffective if pursued for any indefinite period of time.
dc.language.isoen
dc.publisherEconomic & Social Studies
dc.relation.ispartofseriesEconomic and Social Review
dc.relation.ispartofseriesVol.17, No. 2, January, 1986
dc.subjectEuropean Monetary System (EMS)
dc.subjectFinancial markets - Europe
dc.titlePortfolio equilibrium and monetary policy in Ireland
dc.typeJournal article
dc.status.refereedYes
dc.publisher.placeDublin
dc.rights.ecaccessrightsOpenAccess
dc.format.extentpaginationpp133-146


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