The real exchange rate, fiscal policy and the current account : interpreting recent Irish experience

Files in This Item:
File Description SizeFormat 
WP 96-10b.pdf2.19 MBAdobe PDFDownload
Title: The real exchange rate, fiscal policy and the current account : interpreting recent Irish experience
Authors: Walsh, Brendan M.
Permanent link:
Date: Mar-1996
Abstract: This paper examines the Irish macroeconomic adjustment over the period since 1979 with particular reference to the interaction of the real exchange rate with the balance between national saving and investment. The transition from a large current account deficit to an exceptional surplus and the reversal of the growth in external indebtedness are discussed. The fact that a major reduction in absorption was achieved without a real exchange rate depreciation is attributed to a simultaneous reduction in investment spending relative to GDP and an improvement in the relative efficiency of the industrial exporting sectors. These factors are likely to continue to exert upward pressure on the Irish real exchange rate.
Funding Details: Not applicable
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Series/Report no.: UCD Centre for Economic Research Working Paper Series; WP96-10
Keywords: Fiscal policyCurrent accountReal exchange rates
Subject LCSH: Ireland--Economic policy
Balance of payments--Ireland
Fiscal policy--Ireland
Foreign exchange rates--Ireland
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

Show full item record

Page view(s) 1

checked on May 25, 2018

Download(s) 20

checked on May 25, 2018

Google ScholarTM


This item is available under the Attribution-NonCommercial-NoDerivs 3.0 Ireland. No item may be reproduced for commercial purposes. For other possible restrictions on use please refer to the publisher's URL where this is made available, or to notes contained in the item itself. Other terms may apply.