The Phillips Curve in Ireland: 1935 - 2012

Stefan Gerlach, Reamonn Lydon () and Rebecca Stuart

No 10010, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We study the determination of Irish inflation between 1935 and 2012 using a Phillips curve approach. We find that a simple backward-looking Phillips Curve that incorporates import prices is stable over the sample period and passes a number of diagnostic tests. We also consider the importance of UK and euro area inflation for Irish inflation. While UK inflation is significant in the period 1935 ? 1979, and euro area inflation is significant in the period 1980 ? 2012, we present evidence that suggests that these findings reflect common shocks.

Keywords: Historical statistics; Import prices; inflation; Ireland; Output gap (search for similar items in EconPapers)
JEL-codes: E3 E4 N14 (search for similar items in EconPapers)
Date: 2014-06
New Economics Papers: this item is included in nep-his and nep-mac
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