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Money, interest and prices in Ireland, 1933-2012

Author

Listed:
  • Gerlach, Stefan.

    (Central Bank of Ireland)

  • Stuart, Rebecca

    (Central Bank of Ireland)

Abstract

In this paper we assemble an annual data set on broad and narrow money, prices, real economic activity and interest rates in Ireland from a variety of sources for the period 1933-2012. We discuss in detail how the data set is constructed and what assumptions we have made in doing so. Furthermore, we perform a VAR analysis to provide some simple empirical evidence on the behaviour of these time series. The results suggest that aggregate supply and inflation shocks play a dominant role in Irish business cycles.

Suggested Citation

  • Gerlach, Stefan. & Stuart, Rebecca, 2014. "Money, interest and prices in Ireland, 1933-2012," Research Technical Papers 07/RT/14, Central Bank of Ireland.
    • Handle: RePEc:cbi:wpaper:07/rt/14
    as

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    File URL: https://centralbank.ie/docs/default-source/publications/research-technical-papers/research-technical-paper-07rt14.pdf?sfvrsn=8
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    References listed on IDEAS

    as
    1. Kelly, John, 2003. "The Irish Pound: From Origins to EMU," Quarterly Bulletin Articles, Central Bank of Ireland, pages 89-115, March.
    2. Gerlach, Stefan & Stuart, Rebecca, 2014. "Money Demand in Ireland, 1933-2012," CEPR Discussion Papers 9962, C.E.P.R. Discussion Papers.
    3. Jushan Bai & Pierre Perron, 2003. "Computation and analysis of multiple structural change models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(1), pages 1-22.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Ireland; historical statistics; long time series; business cycles; VAR.;
    All these keywords.

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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