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Posts in the "Investment" category

The productivity problem - We need to invest

Posted on April 21, 2017 by Tom McDonnell

Unoccupied Industry

For most economists the sources of productivity, innovation and technological progress are almost co-extensive with the central question of economics - what is the source of the wealth of nations?

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Permanent link | Categories: IncomeInvestment

Slides from NERI Seminar: Investment and the Fiscal Rules

Posted on February 09, 2017 by Louisa Gavin

8 Feb 17 Monthly Seminar 022

Slides from NERI Seminar on Investment and the Fiscal Rules presented by Eddie Casey, Chief Economist & Head of Secretariat, Irish Fiscal Advisory Council on 8th February, 2017.

Permanent link | Categories: Investment

Innovation Inputs, How does the Republic of Ireland Compare?

Posted on February 01, 2017 by Tom McDonnell

Lego bricks

The Republic of Ireland’s industrial and enterprise strategies will have to evolve in the future to adjust to changing political, economic and technological realities.

One constructive step that the Irish government can take to future proof its economy is to renew its focus on innovation policy with a view to building a world class innovation system. Technological change and innovation have long been of fundamental interest to economists because of the belief that sustainable long-run economic growth depends on the ability of the economy to produce and diffuse new innovations.

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Permanent link | Categories: Government SpendingInvestment

Productivity and Innovation are the only things that can drive Long-run Growth

Posted on January 26, 2017 by Tom McDonnell

Puzzle

The world is changing and Ireland’s industrial and enterprise strategies will have to evolve if we wish to thrive in this new reality. One constructive step that the Irish government can take is to renew its focus on innovation policy with a view to building a world class National System of Innovation. Technological change and innovation have long been of fundamental interest to economists because of the belief that sustainable long-run economic growth and development along with improvements in quality of life depend on the ability of the economy to produce and diffuse new innovations.

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Permanent link | Categories: Government SpendingInvestment

External shocks - change the detail but no need to rewrite the productivity playbook

Posted on November 04, 2016 by Tom McDonnell

TTIP

The vulnerability of the Republic of Ireland economy to external shifts and shocks was brought home in 2016 in at least two ways. While the potential Brexit from the European Union (EU) has unclear political implications, it has almost certainly negative economic implications. At the same time, the opening shots of an international or at least EU clamp down on aggressive tax avoidance has exposed the fragility of Irish industrial policy to external policy shifts.

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Permanent link | Categories: Government SpendingInvestmentMacroeconomics

Opening Statement to the Budgetary Oversight Committee

Posted on September 13, 2016 by Tom McDonnell

Public sector employment - NERI blog on public sector employment in the Republic of Ireland
NERI blog on public sector employment in the Republic of Ireland

The Select Committee on Budgetary Oversight commenced a series of pre budget hearings last week with contributions from DKM, NERI, the Irish Central Bank, and the ESRI. The hearings will continue this week with contributions from the Fiscal Council and from the European Commission and then next week with contributions from the Minister for Public Expenditure and Reform, the Revenue Commissioners and the Minister for Finance. The pre budget report is due to be finalised on the 29th of September in advance of the budget.

It will be interesting to see whether the report has an influence on the policies announced on budget day. In any event the Committee should become more influential in future years once it beds down as a year long presence.

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Permanent link | Categories: Government SpendingInvestmentMacroeconomics

Fiscal Space: A Short Primer

Posted on June 23, 2016 by Tom McDonnell

Government Buildings - Budgeting for the future
Budgeting for the future

The parameters for Budget 2017 are set by the requirements of the preventive arm of the Stability and Growth Pact (SGP). The preventive arm is assessed under two main pillars. These are the Structural Balance Rule and the Expenditure Benchmark Rule.

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Permanent link | Categories: Government SpendingInvestmentMacroeconomicsTaxation

Fiscal Space, Irish Water and Water Charges

Posted on March 07, 2016 by Tom McDonnell

Water Network - NERI inBrief on alternative methods of charging for water
NERI inBrief on alternative methods of charging for water

In an earlier blog I noted that the government's available fiscal space over the next five years, after accounting for demographic costs and the indexing of public spending for inflation, would be somewhere in the region of €2.5 billion to €4.5 billion. The Fiscal Council estimate €3.2 billion. The fiscal pressure eases somewhat if, as expected, the European Commission ends up allowing an additional €1.5 billion of leeway over the next five years.

The upshot is that the space for increasing real spending on health, housing, education, infrastructure and other areas of public spending will be highly constrained over the next five years in the absence of measures to increase government revenue.

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Permanent link | Categories: Government SpendingInvestment

Social Housing in Northern Ireland

Posted on March 03, 2016 by Paul Mac Flynn

Publication cover - NERI Research inBrief Housing - Cover image for neri_research_inbrief_housing.pdf
Cover image for neri_research_inbrief_housing.pdf

Social housing in Northern Ireland faces unique challenges over the coming years in terms of capacity, finance and delivery. Moreover there are questions over the structure of organisation who deliver social housing and how that could be amended to best suit future needs.
This InBrief looks to evaluate current social housing policy and whether Northern Ireland should look beyond the UK for best practice.
KEY POINTS

  • Northern Ireland is not at present providing an adequate supply of social housing.
  • Schemes for tenant purchase of social housing have depleted stock and should be suspended.
  • The reclassification of Housing Associations as public bodies disrupts the current financial model and calls into question the future role of the NIHE
  • There should be a broader role for Housing Associations beyond providing for low-income households.

Permanent link | Categories: InvestmentJobs

Fiscal Rules, Fiscal Space and Growth Friendly Fiscal Policies

Posted on February 12, 2016 by Tom McDonnell

Wealth25Sep

The reformed Stability and Growth Pact (SGP) and the creation of the Irish Fiscal Advisory Council (IFAC) have enhanced supervision of Irish fiscal policy and reduced the range of feasible fiscal stances an Irish government can promise or take. This new reality was brought into sharp focus with the recent debate about 'fiscal space'. The fiscal space represents the projected amount of additional resources available for public spending over a period of time.

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Permanent link | Categories: Government SpendingInvestmentMacroeconomicsTaxation

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