TY - JOUR
T1 - Beggar-my-neighbour devaluation
T2 - the case of Ireland, 1967
AU - Horne, Jocely
PY - 1981
Y1 - 1981
N2 - The purpose of this empirical study is to assess the effectiveness of a beggar-my-neighbour devaluation using the Irish devaluation against sterling in 1967 as a case study. A dynamic continuous time model of a small, open economy with a money, goods and labour market is estimated. The simulation results show that while the effects of devaluation were in the direction predicted, raising the stock of foreign reserves, the rate of inflation and lowering unemployment, the magnitude of the effects, especially on external balance was small.
AB - The purpose of this empirical study is to assess the effectiveness of a beggar-my-neighbour devaluation using the Irish devaluation against sterling in 1967 as a case study. A dynamic continuous time model of a small, open economy with a money, goods and labour market is estimated. The simulation results show that while the effects of devaluation were in the direction predicted, raising the stock of foreign reserves, the rate of inflation and lowering unemployment, the magnitude of the effects, especially on external balance was small.
UR - http://www.scopus.com/inward/record.url?scp=58149403729&partnerID=8YFLogxK
U2 - 10.1016/S0014-2921(81)80005-0
DO - 10.1016/S0014-2921(81)80005-0
M3 - Article
AN - SCOPUS:58149403729
SN - 0014-2921
VL - 15
SP - 327
EP - 338
JO - European Economic Review
JF - European Economic Review
IS - 3
ER -