The establishment of a monetary union in Europe in 1999 has eliminated exchange rate risk within the euro area and has led to a more unified financial framework. It has been established in the literature that the euro has led to a disproportional increase in bilateral asset holdings within the...

This paper surveys the literature that attempts to explain what caused the Celtic Tiger boom. The suggested explanations that are covered include fiscal stabilisation, tax cuts, delayed convergence, privatisation and deregulation, strong growth in export markets, supply of labour, education, the...

This paper considers the various strategies rural households employ to avoid consumption shortfalls caused by realizations of adverse income shocks. First, we develop an ex post theoretical model within an inter-temporal utility maximizing framework which we use to explain households’...

T. K. Whitaker and Seán Lemass are generally credited with effecting the policy shiftfrom protectionism to outward orientation. Ireland’s low corporation tax regime,however, has its origins in the export profits tax relief (EPTR) measures introduced bythe second inter-party government in...

In an extended Ricardian model of trade, we study the effects of improving trade deficits on relative prices, and the relation between growth rates and real exchange rates. An improvement in the trade balance induces relative wages to overshoot their long-run value, placing downward pressure on...

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What determines the confidence of immigrants in public institutions? Using pooled data from the European Social Survey from 26 countries, the study examines whether processes of social exclusion and discrimination can account for migrants’ confidence in public institutions. Specifically, it...

This paper contributes to empirical research on the dynamics of the terms of trade. We start by proposing a method for constructing different measures of the terms of trade. This is achieved by estimating a range of substitution elasticities using a panel data approach and highly disaggregated...

Sub-Saharan Africa (SSA) experienced a process of marginalization in the global economy in the 1980s and 1990s. Some now assert this is being reversed by an information technology revolution on the sub-continent. SSA now has the fastest growing mobile phone penetration rates in the world and...

Foreign direct investment (FDI) in services has grown significantly in recent years. Evidence of spatial relationships in FDI decisions have been provided for goods manufacturing by utilizing physical distance-based measures of trade costs. This paper investigates spatial interactions for...