Posts in the "Macroeconomics" category

Monday Blog—Review of 2014

Posted on July 27, 2015 by Tom Healy

This week's blog looks back at articles from 2014:



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Permanent link | Categories: Government SpendingIncomeInequalityInvestmentJobsLiving wageMacroeconomicsTaxationWages

Solidarity key to avoiding a European tragedy

Posted on June 18, 2015 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

Monday 22 June 2015. Krinein is a Greek word which means 'to sift or to separate'.  It gives rise to the word 'crisis'.   Greece has always been at the heart of the European continent. Culturally, linguistically and philosophically ancient Greek civilisation has helped shape who we are as Europeans.  Like so many other countries in Europe, Greece has had a troubled history over the last century marked by wars, a bloody and prolonged civil war (1946-49), a period of military dictatorship (1967-1974) and since then a period of democracy and relative stability together with some uneven economic progress. Politically, Greece stands at an important gateway in Europe – a member of the European Union (since 1981) and of the North Atlantic Treaty Organisation (NATO) – close to the Balkans, on the receiving end of refugees from North Africa and never far from the cauldron of the Middle East.

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Permanent link | Categories: Macroeconomics

TTIP in trouble

Posted on June 12, 2015 by Tom Healy

Last week an unprecedented even took place in the European Parliament. Following months of complex negotiation between the European Commission – on behalf of European Union Member States – and the United States of America  a resolution to the Parliament to be discussed and voted upon last Wednesday was postponed and the matter was referred back to the Trade Committee. This concerns the Transatlantic Trade and Investment Partnership (TTIP) a brief summary of which is provided at the very end of this blog. If you have followed the international debate about TTIP you probably belong to one of four groups:

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Permanent link | Categories: InequalityInvestmentMacroeconomics

Austerity in Northern Ireland. Where are we and where are we going?

Posted on May 06, 2015 by Paul Mac Flynn


How did we get here?

The Agreement reached by Northern Ireland's political parties at Stormont House last year covered many topics from parades and the past to political reform and shared education. The agreement has now seemingly come unstuck over the issue of welfare reform. Welfare reform was arguably the most intractable of issues supposedly dealt with by the Stormont House Agreement and the quasi-collapse of the deal still threatens to derail Northern Ireland's budget for 2015/16. That budget, if implemented would be the last instalment of austerity from the current UK government.

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Permanent link | Categories: Government SpendingMacroeconomicsNorthern Ireland

Spring is in the air

Posted on May 03, 2015 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

The late Robin Williams once declared that spring is nature’s way of saying ‘let’s party’. The arrival of the ‘Spring Economic Statement’ last week had a seasonal dimension to it: a heightened expectation in advance, a very predictable outcome, a dash of hope and sunshine but some lingering chills and showers.  The Statement – although lengthy and accompanied by the normal 60-page ‘Stability Programme Update’ – has one very noticeable and arguably welcome feature – its simplicity of message. The Statement can be summed up as follows:

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Permanent link | Categories: Government SpendingMacroeconomics

'These truths we hold to be self-evident...'

Posted on April 25, 2015 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

‘These things we hold to be self-evident …. ‘ is a line taken from the 1776 USA Declaration of Independence.  Given the emerging debate  - such as it is – in the Republic of Ireland on matters to do with taxation, social spending and related areas it would seem that the following ten canonical statements are universally believed in, rarely contested and frequently asserted:

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Permanent link | Categories: Government SpendingIncomeInequalityInvestmentJobsLabour costsMacroeconomicsTaxationWages

Still a high income country – despite the recession

Posted on April 23, 2015 by Micheál Collins

Micheal Collins profile

Indicator 4.1 from the NERI’s latest Quarterly Economics Facts (QEF) document shows that despite the elongated economic crisis, the Republic of Ireland’s income per capita remains high. The latest data, for 2013, show that Ireland’s average income of €35,600 is the sixth highest in the EU. The figure is calculated by dividing GDP by the population. Looked at over time, the figures for the Republic of Ireland in 2013 are similar to those recorded in 2004/2005 - a few years before the economic peak and subsequent crash.

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Permanent link | Categories: IncomeInequalityMacroeconomics

NERI Seminar: Examining the Net Wealth of Irish Households

Posted on April 16, 2015 by Daragh McCarthy

The latest NERI seminar took place on Wednesday 22 April 2015. Dr Reamonn Lydon, Central Bank of Ireland, presented research based on a novel dataset on households’ income, assets and debts in Ireland: the Household Finance and Consumption Survey (HFCS). The HFCS is an invaluable resource for policy makers, allowing for household-level analysis of the composition of wealth and debt, leverage and the debt-service burden.

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Permanent link | Categories: InequalityMacroeconomics

Government spending and revenue in the Republic of Ireland

Posted on February 26, 2015 by Tom McDonnell

Tom McDonnell profile

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 with that of other European Union 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 largely obtained from taxes and social security contributions but also includes other receipts of public authorities. The largest items of public spending by function are social protection measures (mainly social transfers), followed by spending on health and then spending on education.

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Permanent link | Categories: Government SpendingMacroeconomicsTaxation

The beginning of the unwinding of a European tragedy?

Posted on January 26, 2015 by Tom Healy

Tom Healy, Director NERI - Tom Healy, Director NERI
Tom Healy, Director NERI

While the results of the general election in Greece are not known at the time of writing this Blog, it is clear that the tectonic plates of political affiliation and sentiment are shifting dramatically almost everywhere. The unthinkable suddenly becomes thinkable and the thinkable becomes irrelevant. Where market sentiment rules popular sentiment offers a counter weight.  Echoes of this are evident even in Ireland where, following 7 years of unrelenting austerity and pressure on living standards, employment and public services, popular sentiment is in the ascendancy.

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Permanent link | Categories: Macroeconomics

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