Exchange rate policy when the labour market exhibits hysteresis
|Title:||Exchange rate policy when the labour market exhibits hysteresis||Authors:||Barry, Frank||Permanent link:||http://hdl.handle.net/10197/1758||Date:||Aug-1994||Abstract:||This paper analyzes the effects of exchange rate shocks in a small open economy whose labor market exhibits hysteresis. The model is used to highlight deficiencies in the response of the Irish authorities to exchange rate crisis of 1992/93. A secondary purpose of the paper, though, is to induce those who accept that the Irish labour market is characterised by hysteresis but who reject the argument made here that a more aggressive devaluation should have been pursued, to spell out the labour-market model upon which their policy prescriptions are based.||Type of material:||Working Paper||Publisher:||University College Dublin. School of Economics||Subject LCSH:||Foreign exchange rates
|Language:||en||Status of Item:||Not peer reviewed|
|Appears in Collections:||Economics Working Papers & Policy Papers|
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