This work seeks to analyze the stability of the exchange rate between the Irish and Sterling pounds. Towards this end, we work on a procedure, previously suggested by Haldane & Hall (1991), based on a regression with changing parameters and propose a statistical test of the null hypothesis of non-convergence versus the 'tendency towards convergence' alternative. The interest of the application rests in the fact that Ireland and the United Kingdom represent two countries that have traditionally maintained very strong commercial relationships, which forces them to maintain a very stable exchange rate in practice.
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Length: 20 pages Date of creation: 1997 Date of revision: Handle: RePEc:fth:inecpu:164
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Find related papers by JEL classification: C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium F31 - International Economics - - International Finance - - - Foreign Exchange