Against the background of increasing financial depth and international financial integration, not least in the EU, the trend towards analyzing financial system policy in fiscal terms is reviewed. Implicit and explicit taxation of the financial system has generated substantial ? though now...

Conventional PPP-adjusted real output measures, invaluable for making international comparisons of living standards, may greatly exaggerate the productive capacity of poor countries. The equilibrium prices of an hypothetical world of full economic integration provide an instructive basis for...

In recent papers (1993a and b) we have focused on the role of expectations in influencing Irish interest rates during the EMS period. Here we examine the role of monetary policy actions more directly, and explore the relation between interest rates, on the one hand, and actions of the monetary...

The impact of the single financial market process was expected in the peripheral countries. This report, which concentrates on Greece, Ireland and Portugal, examines the process of financial integration, It focuses on the degree to witch financial portfolios have becomes internationalized, and...

With increasing monetary integration in Europe, Ireland's Banking system has become increasingly influenced by monetary policy actions in other EMS countries. The purpose of this paper is to review the mechanisms adopted by the Bundesbank and various other central banks in influencing interest...