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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.

Contact: Tom.McDonnell@NERInstitute.net

Euro Crisis: Causes and Some Solutions

Posted on February 01, 2016 by Tom McDonnell

50 cent 2
The euro crisis may be burning at a low heat but that doesnt mean the euro area is any better designed than it was six months ago. The latest NERI inBrief and accompanying working paper and presentation discuss the causes of the euro crisis. They argue that long-term success and stability for the currency union depends on the implementation of a package of complementary policy reforms. Policies …

Posted in: Macroeconomics

NERI Labour Market Conference 2016

Posted on January 26, 2016 by Tom McDonnell

University of Limerick
Call for papers The fourth annual NERI Labour Market Conference will be held on Friday 13th May in association with University of Limerick Department of Economics at the Kemmy Business School . The conference will run from 11:00am-16.30pm and will include research papers on various aspects of the Irish labour market and Irish labour market policy. The NERI Labour Market Conference is intended to …

Posted in: Jobs

Euro Crisis: Causes and Fixes

Posted on January 15, 2016 by Tom McDonnell

Euro coin
The euro crisis was and remains a system problem. The roots of the crisis lie in a series of structural flaws in the architecture of European Monetary Union including in its design, construction and implementation. Notable design flaws include the absence of a centrally run banking union to accompany currency union, the absence of a fiscal mechanism to soften asymmetric shocks, and the absence of …

Posted in: Macroeconomics

Low tax, low spend?

Posted on January 06, 2016 by Tom McDonnell

twenty euro close up
The NERI’s Quarterly Economic Facts contains a range of indicators on the public finances. One of these indicators compares levels of government revenue and public spending in the Republic of Ireland (Ireland) with that of other EU economies. The basic method of comparison is to measure total government revenue and total public spending as percentages of GDP. Total general government revenue is …

Posted in: Government SpendingTaxation

The Flawed currency union

Posted on November 27, 2015 by Tom McDonnell

shutterstock_148099793-680x400
In the NERI's Quarterly Economic Facts we often compare Irish performance against that of other EU or Euro area countries, for example in areas like the general government balance. While an interesting exercise in itself it is sometimes more useful to sit back and reflect on the bigger picture. The fact is that the Euro area has, in aggregate, underperformed against the United States, as well …

Posted in: Macroeconomics

NERI Seminar: Fiscal Priorities for Long-Run Growth

Posted on November 20, 2015 by Tom McDonnell

Neri poster
The latest NERI seminar  looked at the Irish economy’s recent performance and considered its medium-and-long-term prospects for growth. Over the course of the presentation a range of policy reforms to increase the economy’s long-run potential output were identified and discussed. Dr McDonnell set out the case for  increased investment in education and skills, particularly early years …

Posted in: Government SpendingInvestmentMacroeconomicsTaxation

Government Debt - We're not out of the woods yet

Posted on October 19, 2015 by Tom McDonnell

Out of the woods
Changes in government debt over time reflect the impact of government deficits. The sustainability of the national debt depends on the scale of the debt in relation to the size of the economy. The government debt-to-GDP ratio is the amount of a country’s total gross government debt as a percentage of its GDP and is one of the indicators contained within the NERI’s Quarterly Economic Facts …

Posted in: Macroeconomics

Budget 2016, Taxes and Growth

Posted on October 08, 2015 by Tom McDonnell

QEO Autumn 2015
Budget 2016 is close at hand and inevitably, and unfortunately, the debate has been characterised by loud and persistent campaigning by the anti-tax lobby. It seems every day brings new calls for tax breaks for one interest group or another. Yet there is limited fiscal space and we cannot afford to fritter away our precious resources in this way – we discuss the available fiscal space in …

Posted in: InvestmentMacroeconomicsTaxation

The Structural Balance - Where Facts become blurred

Posted on August 05, 2015 by Tom McDonnell

Publication cover - Quarterly Economic Facts Summer 2015
Ireland is expected to successfully exit the corrective arm of the Stability and Growth Pact (SGP) at the end of 2015. From 2016 onwards Irish budgetary policy will be subject to the requirements of the preventive arm of the SGP as well as being subject to national budgetary rules. The preventive arm of the SGP is assessed under two pillars. One of these pillars is the structural balance rule. …

Posted in: Government SpendingMacroeconomicsTaxation

Fact Gathering on the Minimum Wage: What do the meta-studies show?

Posted on April 29, 2015 by Tom McDonnell

Euro coin
Ireland set up a Low Pay Commission earlier this year with a mandate to (amongst other things) recommend to government on an annual basis on appropriate changes to the rate set for the National Minimum Wage (NMW). The employment impact of changes to the NMW has long been hotly contested with numerous conflicting theories such as the competitive model, the monopsony model and the institutional …

Posted in: JobsWages

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