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Posts in the "Investment" category

Cost Rental Housing – A Model for Ireland?

Posted on May 11, 2018 by Paul Goldrick-Kelly

Housing presents one of the largest issues facing the state. From record levels of homelessness, to rapidly increasing house prices to rents that now exceed pre-crash levels - the housing market in the republic of Ireland shows signs of disfunctionality. While there is common agreement that this crisis is linked to housing supply, more fundamental issues need to be addressed.

This inBrief presents a possible policy intervention that could mitigate many of these issues. Cost rental housing provision refers to a situation where charged rents are directly related to actually incurred costs, including current an capital costs. The inBrief briefly outlines the way cost rental housing functions within social housing systems elsewhere in europe. While each model operates slightly differently, the broad cost rental model financing is common (see my co-authored working paper for more detailed analysis)                               

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Permanent link | Categories: Government SpendingInvestment

Productivity matters for everyone

Posted on January 18, 2018 by Paul Mac Flynn

In recent years one economic trend in particular has become increasingly important for policymakers across most western economies and that is productivity. It has become such a significant issue because while most other economic metrics eventually began to recover following the 2008 crash, productivity has remained stubbornly weak.

In simple terms productivity is a measure of how efficiently output is produced from inputs. However, productivity is a somewhat contested word, in that it can mean different things to different people depending on the context. In particular, there is quite a difference in how the word can be perceived when used in the micro sense as opposed to the macro.

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Permanent link | Categories: Government SpendingInvestmentWages

Public spending levels: How does Ireland Compare?

Posted on December 20, 2017 by Paul Goldrick-Kelly

The nature and level of public expenditure is an important and contentious subject of debate in political discussion everywhere and that is no less true of the Republic of Ireland.  While this debate cannot be entirely shorn of subjective values and political judgements, relative expenditure comparisons can ground debate in something resembling a common set of facts.

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Permanent link | Categories: Government SpendingInvestment

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 O'Brien

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

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