Posts from "Tom McDonnell"

Tom McDonnell

Tom McDonnell is Senior Economist at the NERI and is responsible for among other things the NERI's analysis of the Republic of Ireland economy including risks, trends and forecasts. He specialises in economic growth, economics of innovation, Irish and European economies, and fiscal policy. He previously worked as an economist at TASC and before that was a lecturer in economics at NUI Galway and at DCU. He has also taught at NUI Maynooth.

Tom obtained his PhD in economics from NUI Galway. He is a native of Limerick city.


Economics made Simple - week 1 - "Concepts and Irish Economic Development"

Posted on October 22, 2019 by Tom McDonnell

Dr Tom McDonnell, Senior Economist at the NERI presented at week 1 of the "Economics made Simple" series of lectures in conjunction with The People's College.  Tom presented on "Concepts and Irish Economic Development".  The lecture took place yesterday in The Teacher's Club from 18:00 - 19:30.  Slides from lecture are below:   Economics made Simple 2019 week 1 - Concepts and Irish Economic …

Budget 2020 makes the vulnerable pay for Brexit

Posted on October 11, 2019 by Tom McDonnell

Money notes and coins
Budget 2020 came and went under the shadow of a looming Brexit threat. Notwithstanding this threat, the Department of Finance projects we will avoid a technical recession in 2020. The Central Bank similarly projects narrow avoidance of a recession in a no-deal scenario, albeit with declines in consumption and in investment. The government’s fiscal position is in a reasonably solid position with …

A Short-Time Work Scheme would help us battle the worst effects of Brexit

Posted on October 07, 2019 by Tom McDonnell

Every economic downturn is unique but often involve some form of demand side or supply side shock. A ‘demand-side’ shock occurs when businesses and households collectively reduce their spending in the economy. Good examples include stock market or property crashes that lead to a general loss of confidence in future economic prospects. Supply-side shocks tend to be more damaging to the economy …

Budget 2020 should increase the Local Property Tax

Posted on August 30, 2019 by Tom McDonnell

social housing
Budget 2020 is an opportunity to widen the tax base and increase scope for spending on areas like childcare, education and infrastructure. One of the best ways we can do this is by increasing the property tax. The latest NERI inBrief makes just such a case. So what is the case in favour of shifting the composition of taxes in favour of a higher property tax? We can broadly summarise the case as …

Tax Breaks: Time for Serious Reform

Posted on August 01, 2019 by Tom McDonnell

Euro coins
Tax reform is an ongoing process. The Irish republic’s tax system is like the proverbial curate’s egg – there are good bits and bad bits. I’m going to focus here on just one of the ‘bad bits’ but first let us consider the key objective of any tax system. Key objectives The key objectives of any tax system are to raise a meaningful amount of revenue for the exchequer while at the same …

Trade Unions, Collective Bargaining and Economic Performance

Posted on June 25, 2019 by Tom McDonnell

NERI Research inBrief no 68 June 19
A key goal of workers and unions is to achieve wage growth that outstrips increasing costs of living. Trade unions can influence the labour share and the productivity channels, to the benefit of workers. Unions increase the bargaining power of labour, which enables workers to negotiate a larger slice of the economic pie. In addition, coordinated wage bargaining can impede cost competition …

Posted in: Taxation

Submission to the Budgetary Oversight Committee

Posted on June 05, 2019 by Tom McDonnell

The NERI will appear before the Oireachtas Budgetary Oversight Committee on the 19th of June. Our preliminary submission is here.

Posted in: Government SpendingTaxation

New Ideas and Growth: Some Policy Implications

Posted on February 15, 2019 by Tom McDonnell

In the latest NERI inBrief I outline some of the main concepts and principles that policymakers can use as part of a framework for generating sustainable long-run economic growth. We can make a number of points. First, sustainable growth is dependent on continuous productivity gains arising from innovation. Second, innovation is itself a function of the production, diffusion and application of …

Posted in: MacroeconomicsInvestment

New NERI Working Paper - Innovation and Growth: Concepts and Policy Implications

Posted on December 20, 2018 by Tom McDonnell

Investment Green Energy
The NERI's latest addition to its enterprise project is released today. You can find it on the website here. This working paper will underpin much of our research in 2019. The paper focuses on sustainable and inclusive long-run economic growth. The core idea is that knowledge and new ideas manifesting as ‘innovations’ are the key to sustainable long-run economic growth. Following the main …

Posted in: MacroeconomicsInvestmentIncome

Prospects for Private Sector Wages 2018/2019

Posted on November 20, 2018 by Tom McDonnell

The Republic of Ireland's labour market is tightening, albeit not yet overheating. As such, the prospects for real wage growth for workers continue to improve. In this presentation we assess the state of the Republic of Ireland's labour market and look ahead to the potential for real wage growth in 2019.

Posted in: JobsMacroeconomicsLabour costsIncomeWages

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