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The real exchange rate, fiscal policy and the current account : interpreting recent Irish experience
Author(s)
Date Issued
1996-03
Date Available
2011-06-14T15:55:27Z
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.
Sponsorship
Not applicable
Type of Material
Working Paper
Publisher
University College Dublin. School of Economics
Series
UCD Centre for Economic Research Working Paper Series
WP96-10
Classification
E65
F32
Subject – LCSH
Ireland--Economic policy
Balance of payments--Ireland
Fiscal policy--Ireland
Foreign exchange rates--Ireland
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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