Blog Archive | 2013

Labour costs in accommodation and food sector equal to Spain's

Posted on June 11, 2013 by Rory O'Farrell

accommodation labour costs
Not only did we recently have weather like the Spanish, labour costs were too. The latest data from Eurostat (the European Statistics Agency) show that Irish labour costs in the Accommodation and Food sector are equal to those of Spain. Adjusting for the cost of living Irish labour costs are even lower than in Spain. The data, which was recently updated, shows labour costs for the year 2011. …

Posted in: Labour costs

The Productivity Puzzle and Northern Ireland

Posted on June 10, 2013 by Paul Mac Flynn

InBrief June 2013
Over the last two years, the UK economy has experienced stagnating output growth alongside increasing total employment. This counter-intuitive situation has come to be known as the "Productivity Puzzle". Northern Ireland has experienced a similar dynamic over the last two years. There is no agreement among researchers as to what may be causing this situation or whether it is a permanent …

Posted in: MacroeconomicsNorthern Ireland

Investment is still the key

Posted on June 10, 2013 by Tom Healy

Tom Healy, Director NERI
Unemployment is the biggest single problem confronting Europe today. Ireland is no exception. With one in seven out of work, here, and one in four young people either out of work or not in education or training currently we are faced with a huge challenge. President Michael D. Higgins is correct to draw attention to the challenge that this problem poses to the future of European cooperation and …

Posted in: Government SpendingInvestmentJobsMacroeconomics

Recession, Austerity and Household Income

Posted on June 05, 2013 by Micheál Collins

The experience of recession and austerity over recent years has been widespread. The impact has been greatest on those who lost their jobs since the combined economic, fiscal, banking, property and social crisis hit Ireland. Looking at just once indicator of the recession, household income, we can get an insight into the average impact of the recession on household's living standards. In the …

Posted in: Income

Video and Images from first annual Donal Nevin Lecture - 2013

Posted on May 26, 2013 by Rory O'Farrell

Below is a selection of pictures and a video of the first annual Donal Nevin Lecture given by President Michael D. Higgins. A blog relating to the even can be read here.      

President gives inaugural Donal Nevin lecture

Posted on May 24, 2013 by Tom Healy

'The work of this Institute, and others like it, is critical in advancing reasoned moral arguments about how the issues of work, employment, unemployment and social security are to be approached' said President Michael D. Higgins at the inaugural Dónal Nevin lecture at the Communications Workers Union HQ in Dublin on Thursday 23rd May. The family of the late Dónal Nevin in whose name the …

If Governments were really only like households

Posted on May 20, 2013 by Tom Healy

Tom Healy, Director NERI
A visitor from outer space might be forgiven for concluding that the only or main economic problem confronting European States was deficit and debts - Government deficits and debts. The corollary of this problem is - of course - austerity to cure the ailment. Or is it? Lets compare the Government deficit to a household with a combined income of €40,000 a year and with a total mortgage and other …

Fiscal Stimulus, Unemployment and House Prices

Posted on May 16, 2013 by Micheál Collins

Publication cover - McQuinn_Kelly_NERI_2013
The latest NERI seminar, from Kieran McQuinn and Robert Kelly of the Central Bank, examined the relationship between unemployment and house prices and used this relationship to examine the impact on banking defaults / mortgage defaults of economic growth. Modelling a fiscal stimulus of €2b, they estimated that bank defaults would decrease by about €660m; a saving to the state in either …

Posted in: Government SpendingJobsMacroeconomics

Ireland has the lowest Tax Wedge in Europe

Posted on May 15, 2013 by Micheál Collins

The tax wedge measures the difference between the total labour costs to the employer (wages + employers PRSI) and the corresponding net take-home pay for an employee (gross wages - all income taxes and PRSI). It is generally reported as a percentage of total labour costs. The latest OECD figures for the tax wedge have just been published as part of 'Taxing Wages 2013'. Looking at the result for …

Posted in: Labour costsTaxation

Tax Revenue Stability and Corporation Tax

Posted on May 13, 2013 by Micheál Collins

One of the lessons of the recent economic collapse (I hope!) has been the importance of a stable tax base. Total stability is impossible for a small open economy like Ireland; we will always have swings in economic performance which will alter the volume of economic transactions and tax revenues. However, policy should aim to limit exposure to tax revenue instability as well as closely monitor …

Posted in: MacroeconomicsTaxation

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