Unemployment and inflation in Ireland: 1926–2012

被引:0
作者
Stefan Gerlach
Reamonn Lydon
Rebecca Stuart
机构
[1] Central Bank of Ireland,CEPR
[2] Central Bank of Ireland,undefined
来源
Cliometrica | 2016年 / 10卷
关键词
Ireland; Historical statistics; Inflation; Unemployment; Import prices; E3; E4; N14;
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中图分类号
学科分类号
摘要
Since the 1970s, the overarching view in the literature has been that a Phillips curve relationship did not exist in Ireland prior to the 1979 exchange rate break with Sterling. It was argued that, as a small open economy, prices were determined externally. To test this relationship, we study the determination of inflation between 1926 and 2012, a longer sample period than any previously used. We find that the difference between unemployment and the NAIRU is a significant determinant of inflation both in the full sample and in the subsamples spanning the periods before and after the Sterling parity link.
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页码:345 / 364
页数:19
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