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Scotland’s Currency Options

Author

Listed:
  • Angus Armstrong

    (National Institute of Economic and Social Research (NIESR)
    Centre for Macroeconomics (CFM))

  • Monique Ebell

    (National Institute of Economic and Social Research (NIESR)
    Centre for Macroeconomics (CFM))

Abstract

The objective of this paper is to consider which currency option would be best for an independent Scotland. We examine three currency options: being part of a sterling currency union, adopting the euro, or having an independent currency. No currency option is the best when considered against all criteria. Therefore, making the decision requires deciding which criteria are most important.

Suggested Citation

  • Angus Armstrong & Monique Ebell, 2013. "Scotland’s Currency Options," Discussion Papers 1302, Centre for Macroeconomics (CFM).
    • Handle: RePEc:cfm:wpaper:1302
    as

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    References listed on IDEAS

    as
    1. Angus Armstrong, 2012. "Scotland's Currency and Fiscal Choices," National Institute Economic Review, National Institute of Economic and Social Research, vol. 219(1), pages 4-9, January.
    2. Angus Armstrong & Monique Ebell, 2013. "Scotland’s Currency Options," Discussion Papers 1302, Centre for Macroeconomics (CFM).
    3. Schuknecht, Ludger & von Hagen, Jürgen & Bernoth, Kerstin, 2004. "Sovereign risk premia in the European government bond market," Working Paper Series 369, European Central Bank.
    4. Olivier J. Blanchard & Daniel Leigh, 2013. "Growth Forecast Errors and Fiscal Multipliers," American Economic Review, American Economic Association, vol. 103(3), pages 117-120, May.
    5. von Hagen, Jurgen & Schuknecht, Ludger & Bernoth, Kerstin, 2004. "Sovereign Risk Premia in the European Bond Market," CEPR Discussion Papers 4465, C.E.P.R. Discussion Papers.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Angus Armstrong & Monique Ebell, 2014. "Assets and liabilities and Scottish independence," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 30(2), pages 297-309.
    2. Angus Armstrong & Monique Ebell, 2014. "Assets and liabilities and Scottish independence," Oxford Review of Economic Policy, Oxford University Press, vol. 30(2), pages 297-309.
    3. Angus Armstrong & Monique Ebell, 2013. "Scotland’s Currency Options," Discussion Papers 1302, Centre for Macroeconomics (CFM).
    4. Angus Armstrong & Monique Ebell, 2013. "Scotland’s Currency Options," Discussion Papers 1302, Centre for Macroeconomics (CFM).

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    More about this item

    Keywords

    monetary policy;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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