This paper reviews the roles of monetary and fiscal policies in macroeconmic stabilization. In particular, we take acount of interactions between the two policy instruments and ask whether the extent of macroeconomic and policy uncertainty has changed over time, especially with the advent of...

This paper discusses some key issues in the application of dynamic general equilibrium analysis to open economy modelling. In the context of the new open economy macroeconomics paradigm, we focus on: (i) the currency denomination of sticky prices; (ii) the role of the current account and net...

This paper explores the hypothesis that high volatility of real and nominal exchange rates may be due to the fact that local currency pricing eliminates the pass-through from changes in exchange rates to consumer prices. Exchange rates may be highly volatile because in a sense they have little...

This document provides an introduction to LaTeX for Economists, Social Scientists and those in similar disciplines. While LaTeX is of particular interest to those preparing documents containing some mathematics, tables or graphs its typesetting facilities can also benefit those preparing...

Whether the UK should hold a referendum on continued membership of the European Union (EU) is one of the issues in its general election to be held in May 2015. A possible British withdrawal, or Brexit, would have profound implications for Ireland and particularly for its agri-food sector, given...

Industry location in the European Union is examined in order to explore the relevance of the "new" theories of trade and economic geography. The analysis is based on a set of highly disaggregated intra-industry trade indices for 1961-1990, complemented by sectoral employment statistics for EU...

The preliminary step in assessing the extent of inequality is to decide how to measure it. Different indices exist, each responding to a built-in "aversion to inequality", and the choice of the index to be used affects conclusions. Whilst there is not a "preferable" index, the family of General...

The presence of high and growing levels of intra-industry trade (IIT) is commonly interpreted as a reason to expect low adjustment costs following trade liberalisation. This paper argues that trade-induced adjustment pressures are not directly related to the level of static IIT but to the...

Using a gravity model, we estimate the magnitude of potential trade flows between Ireland and the five CEEC countries currently negotiating accession to the EU. We find that Irish exports were already close to their "normal" level in 1994, but that imports from the CEECs were still only half of...

This paper exposes some common misinterpretations of the "new trade theory". First, the view that high scale economies give rise to high levels of intra-industry trade is challenged. It is shown that the monopolistic-competition trade model predicts a negative relationship between internal scale...