Gerlach, Stefan; Lydon, Reamonn; Stuart, Rebecca - 2015
Ireland prior to the 1979 exchange rate break with Sterling. It was argued that, as a small open economy, prices were … determined externally. To test this relationship, we study the determination of inflation between 1926 and 2012, a longer sample … of inflation both in the full sample and in the subsamples spanning the periods before and after the Sterling parity link. …