Money, interest rates and prices in Ireland, 1933-2012

  • 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 to do so. Furthermore, we estimate a simple SVAR model to provide some empirical evidence on the behaviour of these time series. Money supply shocks appear to be the most important drivers of both money and prices. Interest rate shocks, which capture monetary policy, play an important role driving output and, of course, interest rates. The GDP shocks, which raise prices, seem of less importance.

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Metadaten
Author:Stefan Gerlach, Rebecca Stuart
URN:urn:nbn:de:hebis:30:3-382831
URL:http://ssrn.com/abstract=2663339
DOI:https://doi.org/10.2139/ssrn.2663339
Parent Title (English):Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 513
Series (Serial Number):CFS working paper series (513)
Publisher:Center for Financial Studies
Place of publication:Frankfurt, M.
Document Type:Working Paper
Language:English
Date of Publication (online):2015/09/22
Date of first Publication:2015/09/22
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2015/10/08
Tag:Ireland; SVAR; business cycles; historical statistics; long time series
Issue:Revised version July 27, 2015
Page Number:36
HeBIS-PPN:366777823
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Sammlungen:Universitätspublikationen
Licence (German):License LogoDeutsches Urheberrecht