The Irish Macroeconomic Crisis of 1955-56: How Much Was Due to Monetary Policy
Patrick Honohan () and
Cormac Ó Gráda ()
Working Papers from College Dublin, Department of Political Economy-
The macroeconomic crisis of 1955-56 was the defining event of post-war Irish economic history. What had been an underperforming economy slid into deep recession for reasons which were poorly understood. The long-term consequences were considerable: the reorientation of economic policy that resulted led to the restructuring and expansion of manufacturing on the basis of tax- and grant-aided foreign direct investment to a degree which today continues to be unparalleled.
Keywords: IRELAND; MONETARY POLICY; BUSINESS CYCLES (search for similar items in EconPapers)
JEL-codes: E32 E52 (search for similar items in EconPapers)
Pages: 31 pages
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Working Paper: The Irish macroeconomic crisis of 1955-56: how much was due to monetary policy (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:dublec:98/09
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