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The Irish Paper Pound of 1797-1820: Some Cliometrics of the Bullionist Debate

Cormac Ó Gráda ()

Oxford Economic Papers, 1993, vol. 45, issue 1, 148-56

Abstract: The analysis of the celebrated Bullion Report of 1810 was anticipated in large part by the lesser-known Currency Report of 1804. Both claimed that the phenomena under investigation--the depreciation of the Irish pound in 1803-04 and the rise in the price of gold in 1808-10--were exclusively monetary in origin. The paper uses cointegration techniques in order to test the proposition of the Irish Report. In that case, a 'hard' bullionist interpretation is insufficient to account for the observed exchange rate movements. Copyright 1993 by Royal Economic Society.

Date: 1993
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