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Gabriel Fagan


Gabriel Fagan

Personal Information

Personal webpage URL:

Discipline: Economics

Supervisor: Professor Philip Lane

Nationality: Irish

Qualifications: BA (TCD, 1982), MA (UCD, 1984)

Funding grant(s) (if any):

Date of registration: September, 2011

Research topic : Macroeconomic adjustment to sudden stops: the role of the exchange rate regime and downward nominal rigidity

This research addresses, from both  theoretical and empirical viewpoints, the effects of sudden stop on macroeconomic aggregates. It examines how these effects vary depending on the monetary regime in force (floating, versus fixed exchange rate versus membership of a monetary union). In this regard, it focuses on how differences in the degree of downward nominal wage rigidity affect the adjustment process.


Fagan, G., J. Lothian and P. McNelis (2011), "Was the Gold Standard Really Destabilizing?", forthcoming Journal of Applied Econometrics.

Amisano, G. and G. Fagan, (2010), "A money-based early warning system of risks to price stability", in L. Papademos and J. Stark (eds.), Enhancing the Monetary Analysis. ECB, 2010: 241-251.

Fagan, G, Henry, J and R. Mestre (2005). "An Area Wide Model (AWM) for the Euro Area", Economic Modelling, 22(1), pp. 39-59.

Fagan, G. and J. Morgan (eds.) (2005), Econometric Models of the Euro-area Central Banks. Edward Elgar.

Fagan, G., Gaspar, V. and A. Peirera (2004), "Macroeconomic Adjustment and Structural Change" in Szapary G and J. von Hagen (eds.), Monetary Strategies for Joining the Euro. Edward Elgar, 2004: 168-217.

Fagan, G, Henry, J and R. Mestre (2004). "Structural Modelling of the Euro Area", in Hall, S., Heilemann U. and P. Pauly (eds.), Macroeconomic Modelling and European Monetary Union. Dunker and Humboldt, 2004.

Fagan, G., Mongelli F and J. Morgan (eds.) (2003), Institutions and Wage Formation in the New Europe. Edward Elgar.

Fagan, G. (2001), "Sources of Inflation Divergences Across the Euro Area" in National Bank of Poland, The Polish Way to the Euro. Warsaw.

Fagan, G and Henry, J (1999). "Long Run Money Demand in the EU: Evidence for Area-Wide Aggregates" in Lutkepohl, H and J. Wolters (eds.), Money demand in Europe. Studies in Empirical Economics. Heidelberg: Physica, 1999; 217-40

Fagan, G. (1998). "Implementation Problems of Monetary Policy Strategy" in Wagner, H (ed.), Current issues in monetary economics. Contributions to Economics. Heidelberg: Physica, 1998; pp 141-61

Fagan, G and Henry, J (1998). "Long Run Money Demand in the EU: Evidence for Area-Wide Aggregates", Empirical Economics. 23(3), pp 483-506.

Fagan, G. (1997), "The Black Economy in Ireland", Irish Banking Review, Summer 1997, pp 19-30.

Fagan, G. and E.P. Davis (1997). "Are Financial Spreads Useful Indicators of Future Inflation and Output Growth in EU Countries?", Journal of Applied Econometrics. 12(6), pp. 701-14.

Fagan, G. (1994), "Measuring the Size of Ireland's Black Economy", Journal of the Statistical and Social Inquiry Society of Ireland, 27(1). pp 1-23.

Fagan, G. (1992). "Crowding Out Effects of Government Spending: A Comment", Economic and Social Review, 23, pp. 222-224.

Working Papers:

Amisano, G. and G. Fagan, (2010), "Money Growth and Inflation: A Regime-Switching Approach", ECB Working Paper No. 1207
Fagan, G and V. Gaspar (2008), "Macroeconomic Adjustment to Monetary Union", ECB Working Paper No. 946.

Fagan, G and V. Gaspar (2007), "Adjustment to the Euro", ECB Working Paper No. 716.

Fagan, G, Henry, J and R. Mestre (2001). "An Area Wide Model (AWM) for the Euro Area", European Central Bank Working Paper, No. 42.

Browne, F., Fagan G. and J. Henry (1997), "Money Demand in EU Countries: A Survey", European Monetary Institute Working Paper, No. 7.

Escriva, J-L and G. Fagan (1996), "Empirical Assessment  of Monetary Policy Instruments and Procedures (MPIP) in EU Countries", European Monetary  Institute Working Paper, No. 2.

Fagan, G. and J. Fell (1994) "Techniques for Forecasting the Irish Business Cycle" Technical Paper 2/RT/94 Central Bank of Ireland.

Browne, F. and G. Fagan (1992), "Testing for a Speculative Bubble in Irish Land Prices", Technical Paper 4/RT/92 Central Bank of Ireland.

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Last updated 11 July 2014 by IIIS (Email).