Ireland: Background Papers

August 17, 1995

Summary

This paper considers elements of macroeconomic policy central to Ireland’s objective of being among the first countries to enter into European Economic and Monetary Union. The paper analyzes the main determinants of the Irish pound/sterling exchange rate, an issue brought to the fore by the currency turbulence of March 1995, which saw a sterling-inspired decline in the Irish pound against the deutsche mark. It also considers fiscal developments and prospects, highlighting tax reform measures undertaken to accelerate job creation, the growth of spending in recent years, and the medium-term fiscal outlook.

Subject: Current spending, Expenditure, Foreign exchange, General Agreement on Tariffs and Trade, International trade, Output gap, Production, Real exchange rates, Taxes, Transfer pricing

Keywords: computing output gaps, CR, Current spending, estimate, GATT, GATT agreement, GATT Uruguay Round agreement, General Agreement on Tariffs and Trade, Global, HP estimates of the output gap, ISCR, Output gap, Real exchange rates, trade hostility, Transfer pricing

Pages:
119
Volume:
1995
DOI:
https://doi.org/10.5089/9781451818673.002
Issue:
076
Series:
Country Report No. 1995/076
Stock No:
1IRLEA0011995
ISBN:
9781451818673
ISSN:
1934-7685

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Notes

These background papers on Ireland were prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.

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