Is Real Depreciation Expansionary? The Case of Ireland

Yu Hsing

Bulletin of Applied Economics, 2016, vol. 3, issue 1, 1-9

Abstract: Applying aggregate demand and aggregate supply model and based on a quarterly sample during 2003.Q1 – 2015.Q1, this paper finds that Ireland’s aggregate output is positively associated with real appreciation, German real GDP, the real stock price and labor productivity and negatively influenced by government debt as a percent of GDP, the real lending rate and the expected inflation rate. The insignificant coefficient of the real oil price indicates that Ireland is energy efficient and that a higher real oil price would not impact its aggregate output negatively. Recent euro depreciation would not help Ireland’s aggregate output, and recent decrease in government debt as a percent of GDP would help increase aggregate output.

Keywords: Exchange rates; Government debt; Oil prices; Stock prices; Productivity (search for similar items in EconPapers)
JEL-codes: E62 F31 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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