THE IRISH PAPER POUND OF 1797-1820 - SOME CLIOMETRICS OF THE BULLIONIST DEBATE

The analysis of the celebrated Bullion Report or 1810 was anticipated in large part by the lesser-known Currency Report Of 1804. Both claime d that the phenomena under investigation- the depreciation of the Iris h pound in 1803-4 and the rise in the price of gold in 1808-10- were e xclusively monetary in origin. The paper uses co-integration technique s in order to test the proposition of the Irish Report. In that case a 'hard' bullionist interpretation is insufficient to account for the o bserved exchange rate movements.