Managing an Economy Under EMU: The Case of Ireland
AbstractThis paper first considers the dilemma facing the ECB itself in managing the eurozone economy. It then turns to the issues facing individual governments in managing their own regional economies within the euro zone - in particular the issues facing the Irish government. We first consider the extent to which individual governments should be concerned about deviations in domestic inflation rates from the average euro zone rate. We identify significant benefits to EMU membership but also a cost in the reduction in the ability to control pressures on domestic property markets. Finally, this paper does not consider the problems facing regions of national economies that have very little fiscal autonomy. With the exception of the Northern Ireland Economic Councils study (Bradley, 1998), this issue has to date received little attention in the literature.
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Bibliographic InfoPaper provided by Economic and Social Research Institute (ESRI) in its series Papers with number WP127.
Length: 27 pages
Date of creation: May 2000
Date of revision:
Other versions of this item:
- John Fitz Gerald, 2001. "Managing an Economy Under EMU: The Case of Ireland," The World Economy, Wiley Blackwell, vol. 24(10), pages 1353-1371, November.
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- Irvine, Ian J., 1984. "A Study of New House Prices in Ireland in the Seventies," Research Series, Economic and Social Research Institute (ESRI), number GRS118.
- John FitzGerald & Fergal Shortall, 1998. "Exchange Rate Changes and the Transmission of Inflation," Papers WP096, Economic and Social Research Institute (ESRI).
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- Honohan, Patrick & Leddin, Anthony J, 2005.
"Ireland in EMU: More Shocks, Less Insulation?,"
CEPR Discussion Papers
5349, C.E.P.R. Discussion Papers.
- Patrick Honohan & Anthony Leddin, 2005. "Ireland in EMU: more shocks, less insulation?," The Institute for International Integration Studies Discussion Paper Series iiisdp94, IIIS.
- Conall MacCoille & Daniel McCoy, 2002. "Economic Adjustment Within EMU - Ireland’s Experience," The Economic and Social Review, Economic and Social Studies, vol. 33(2), pages 179-193.
- Bergin, Adele & Conefrey, Thomas & FitzGerald, John & Kearney, Ide & Znuderl, Nusa, 2013. "The HERMES-13 macroeconomic model of the Irish economy," Papers WP460, Economic and Social Research Institute (ESRI).
- Philip R. Lane, & Patrick Honohan, 2003.
"Divergent Inflation Rates in EMU,"
The Institute for International Integration Studies Discussion Paper Series
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