The role of expectations in influencing long-term interest rates in Ireland is examined. In the case of long-term securities, interest rate risk is added to exchange rate risk as a barrier to arbitrage between yields at home and abroad. Nevertheless, we find that fluctuations in world interest...

Even if the single currency of EMU looks less likely than it did to come on stream before the end of the century, there are still strong forces of integration in the European financial markets. These will colour the environment for the development of the Irish financial system and they call for...

This paper examines the relation between Irish and foreign short-term interest rates from the perspective of the expectations approach to understanding interest rate determination. In particular it addresses the question of whether Irish money market interest rates have been in some sense ? too...

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...