DP9961 Money, Interest Rates and Prices in Ireland, 1933-2012
|Author(s):||Stefan Gerlach, Rebecca Stuart|
|Publication Date:||May 2014|
|Keyword(s):||business cycles, historical statistics, Ireland, long time series, VAR|
|JEL(s):||E3, E4, N14|
|Programme Areas:||International Macroeconomics, Economic History|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=9961|
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.