Irish macroeconomic performance under different exchange rate regimes

Reveals that Ireland has experienced six major changes in exchange rate regimes over the period 1797 to today. Provides an historical perspective on this experience. Indicates that Irish nominal variables have been affected by the exchange rate regime and that membership of exchange rate regimes has both affected and has been used to justify policies followed by the Irish government. States that, structurally, the Irish economy has undergone dramatic change, one of the reasons being government policy, which has altered the exchange rate options open to Ireland. Notes, however, that continued labour market and trade linkages with the UK have implications both for the transition and membership of a future European Monetary Union.