The Irish pound and the ERM: lessons from the September crisis and its aftermath

Brendan M. Walsh

No 199314, Working Papers from School of Economics, University College Dublin

Abstract: This paper examines the effects of the EMS crisis of September 1992 on the Irish pound. A review of the Irish experience in the exchange rate mechanism is presented, including an assessment of the extend to which the hard-currency peg pursued after the devaluation of 1986 could be said to have gained credibility for the Irish pound. The behaviour of the Irish interest rates in the aftermath of of sterling's departure form the ERM and the reasons for the protracted attempt to avert a devaluation of the Irish pound are studied. Some implications for progress towards a monetary union in Europe are drawn.

Keywords: European Monetary System (Organization); Ireland--Economic conditions--20th century; Money--Ireland (search for similar items in EconPapers)
Date: 1993-05
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://hdl.handle.net/10197/1718 First version, 1993 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ucn:wpaper:199314

Access Statistics for this paper

More papers in Working Papers from School of Economics, University College Dublin Contact information at EDIRC.
Bibliographic data for series maintained by Nicolas Clifton ().