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...

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...

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...