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Two Islands - Two Monies: the Effect of Breaking the Sterling Link on Anglo-Irish Trade

Author

Listed:
  • Walsh, B.

Abstract

This paper studies the effect on Anglo-Irish trade breaking the link between the Irish pound and sterling in 1979. A gravity model is used to explore this issue. No evidence is found of a structural break following the dismantling of the currency union. Nor did the resultant exchange rate volatility have a significant adverse effect on trade. These results do not support the belief that currency unions result in increased trade flows, either directly or by reducing exchange rate volatility.

Suggested Citation

  • Walsh, B., 2000. "Two Islands - Two Monies: the Effect of Breaking the Sterling Link on Anglo-Irish Trade," Papers 00/06, College Dublin, Department of Political Economy-.
    • Handle: RePEc:fth:dublec:00/06
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    More about this item

    Keywords

    CURRENCIES ; TRADE ; IRELAND ; UNITED KINGDOM ; MONETARY UNION ; EXCHANGE RATE;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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