Dr Angus Armstrong, National Institute of Economic and Social Research outlines his fellowship research.

The Scottish independence debate is fast becoming centred on economic issues, with a fundamental question being which currency Scotland will use if voters choose independence. The objective of this fellowship is to stimulate an open and informed debate on the coherence of alternative currency and fiscal arrangements for Scotland. This issue is at the heart of whether full or further devolution will be successful. The core of the fellowship involves building the first ever large-scale global econometric model of Scotland.