We study Irelandś inheritance of debt following its secession from the United Kingdom at the beginning of the twentieth century. Exploiting structural differences in bonds guaranteed by the UK and Irish governments, we can identify perceived uncertainty about fiscal responsibility in the...

In this note we provide new evidence regarding the size and dynamics of the credit risk premium on Irish Sovereign bonds during the 1980s and early 1990s when fiscal conditions were similar to those currently being experienced. Our analysis is not confounded by the effects of exchange rate risk...