Irish economy significantly affected by shocks from UK, researchers say
Falls in UK growth and depreciation of pound have “sizeable” impact on Ireland, paper says
Exogenous macroeconomic shocks, particularly from the UK, have “sizeable and significant effects on the domestic Irish economy”, a research paper published by the Central Bank of Ireland says.
In Global and Domestic Modeling of Macroeconomic Shocks – A GVAR Analysis of Ireland, Michael O’Grady, Jonathan Rice and Graeme Walsh consider the impact of five types of shock on the Irish economy.
The authors use a global vector auto-regression (GVAR) model, created by Dees et al, to analyse an
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