Spillovers to Ireland [electronic resource] / Daniel Kanda.
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TextSeries: IMF Working Papers; Working Paper ; No. 08/2Publication details: Washington, D.C. : International Monetary Fund, 2008Description: 1 online resource (20 p.)ISBN: 1451868642 :ISSN: 1018-5941Subject(s): Partner Countries | Partner Country | Real Effective Exchange Rate | Reer | Trading Partners | IrelandAdditional physical formats: Print Version:: Spillovers to IrelandOnline resources: IMF e-Library | IMF Book Store Abstract: This paper discusses Ireland's trade and financial linkages with key partner countries, and uses a vector autoregression to examine the impact of shocks to partner country GDP and shocks to Irish competitiveness on Irish GDP. Two main findings are that shocks to U.S. GDP have a larger impact on Irish GDP than shocks to the euro area or the U.K. Also, the share of the variance of Irish GDP explained by shocks to competitiveness rises with the forecast horizon, suggesting that past erosion of competitiveness may yet have a more substantial impact on economic activity.
This paper discusses Ireland's trade and financial linkages with key partner countries, and uses a vector autoregression to examine the impact of shocks to partner country GDP and shocks to Irish competitiveness on Irish GDP. Two main findings are that shocks to U.S. GDP have a larger impact on Irish GDP than shocks to the euro area or the U.K. Also, the share of the variance of Irish GDP explained by shocks to competitiveness rises with the forecast horizon, suggesting that past erosion of competitiveness may yet have a more substantial impact on economic activity.
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