Monthly Archives: June 2013

Ronald MacDonald – Own currency needed if yes

The issue of the appropriate currency for an independent Scotland seems to have become the defining issue in the independence debate. In my paper published today (, I review the critical issues concerning the currency choice for an independent Scotland. … Continue reading

Posted in Currency

Business Attitudes to the Independence Debate

The business community has been relatively quiet during the independence debate. Just like the public, businesses have differing views about the case for Scottish independence. Some argue that independence will be transformational, leading to a revival of entrepreneurship and the … Continue reading

Posted in Business, Debates

Gordon Hughes – The energy sector in Scotland’s future

Professor Gordon Hughes of the University of Edinburgh will present his paper ‘The Energy Sector in Scotland’s Future’ at our September 2013 conference. An overview of his paper is now available from the conference page of this website.

Posted in Energy

The unbalanced Sterling Zone

Suppose that Scotland and the rest of the UK (rUK) form an Optimal Currency Area (OCA). This means that there are net benefits associated with the formation of a currency union. The fact that net benefits arise from the OCA … Continue reading

Posted in Currency

Scotland’s currency options: a ‘hard’ currency? (speech)

Dr Angus Armstrong, NIESR and ESRC Fellow[1] SCOTLAND’S CURRENCY OPTIONS: A ‘HARD’ CURRENCY? “In a world of sovereign states, nothing can be regarded as truly irreversible”[2]  Professor Benjamin Cohen Introduction Good morning ladies and gentlemen. It is a great pleasure … Continue reading

Posted in Currency, Debates, Debt, Monetary Policy, Risk

David Bell’s speech at Scotsman Conference 4th June 2013

[SLIDE 1] Thank you for this invitation to speak at the Scotsman conference on the Economics of Independence. Like Angus, I am one of the research fellows appointed by the ESRC to study issues relating to the constitutional future of … Continue reading

Posted in Currency, Debt, Monetary Policy | Tagged | 2 Comments

Independence as a “Real Option”: Explaining the campaign so far

A common refrain from pro-union campaigners has been for the SNP to provide detail around “what independence would look like”. To the extent that a vision of an independent Scotland has been provided by the SNP (not necessarily by Yes … Continue reading

Posted in Things no-one thought about before | 1 Comment