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Scotland’s Currency Options

Author

Listed:
  • Angus Armstrong

    () (National Institute of Economic and Social Research (NIESR)
    Centre for Macroeconomics (CFM))

  • Monique Ebell

    () (National Institute of Economic and Social Research (NIESR)
    Centre for Macroeconomics (CFM))

Abstract

The objective of this paper is to consider which currency option would be best for an independent Scotland. We examine three currency options: being part of a sterling currency union, adopting the euro, or having an independent currency. No currency option is the best when considered against all criteria. Therefore, making the decision requires deciding which criteria are most important.

Suggested Citation

  • Angus Armstrong & Monique Ebell, 2013. "Scotland’s Currency Options," Discussion Papers 1302, Centre for Macroeconomics (CFM).
    • Handle: RePEc:cfm:wpaper:1302
    as

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    File URL: http://www.centreformacroeconomics.ac.uk/Discussion-Papers/2013/CFMDP2013-02-Paper.pdf
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    References listed on IDEAS

    as
    1. Angus Armstrong, 2012. "Scotland's Currency and Fiscal Choices," National Institute Economic Review, National Institute of Economic and Social Research, vol. 219(1), pages 4-9, January.
    2. Dr Monique Ebell & Dr Angus Armstrong, 2013. "Scotland’s Currency Options," National Institute of Economic and Social Research (NIESR) Discussion Papers 415, National Institute of Economic and Social Research.
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    Cited by:

    1. Angus Armstrong & Monique Ebell, 2014. "Assets and liabilities and Scottish independence," Oxford Review of Economic Policy, Oxford University Press, vol. 30(2), pages 297-309.
    2. Dr Monique Ebell & Dr Angus Armstrong, 2013. "Scotland’s Currency Options," National Institute of Economic and Social Research (NIESR) Discussion Papers 415, National Institute of Economic and Social Research.
    3. Ronald MacDonald & Research Fellow CESifo Policy Group Munich, "undated". "An independent Scotland’s currency options redux: Assessing the costs and benefits of currency choice," Working Papers 2014_11, Business School - Economics, University of Glasgow.

    More about this item

    Keywords

    monetary policy;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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