Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/119405
Authors: 
Gerlach, Stefan
Lydon, Reamonn
Stuart, Rebecca
Year of Publication: 
2015
Series/Report no.: 
CFS Working Paper Series 514
Abstract: 
Since the 1970s, the overarching view in the literature has been that a Phillips curve relationship did not exist in Ireland prior to the 1979 exchange rate break with Sterling. It was argued that, as a small open economy, prices were determined externally. To test this relationship, we study the determination of inflation between 1926 and 2012, a longer sample period than any previously used. We find that the difference between unemployment and the NAIRU is a significant determinant of inflation both in the full sample and in the subsamples spanning the periods before and after the Sterling parity link.
Subjects: 
Ireland
historical statistics
inflation
unemployment
import prices
JEL: 
E3
E4
N14
Document Type: 
Working Paper

Files in This Item:
File
Size
861.64 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.