Discussion Paper Details

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Title: Money, Interest Rates and Prices in Ireland, 1933-2012

Author(s): Stefan Gerlach and Rebecca Stuart

Publication Date: May 2014

Keyword(s): business cycles, historical statistics, Ireland, long time series and VAR

Programme Area(s): Economic History and International Macroeconomics

Abstract: 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 in doing so. Furthermore, we perform a VAR analysis to provide some simple empirical evidence on the behaviour of these time series. The results suggest that aggregate supply and inflation shocks play a dominant role in Irish business cycles.

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Bibliographic Reference

Gerlach, S and Stuart, R. 2014. 'Money, Interest Rates and Prices in Ireland, 1933-2012'. London, Centre for Economic Policy Research.