Positive growth, but no cause for celebration
The UK economy posted its second quarter of positive growth yesterday, and many have heralded the beginning of a long awaited recovery. However, while some growth is better than none, some perspective is needed before one starts popping champagne corks. Firstly, 0.6% can hardly be describes as...
Budget 2014: Some Tax Options
On Saturday last, July 13th, Claiming Our Future held a conference in Corke Park to consider the options and policy choices for Budget 2014. As part of the conference, I presented some options on taxation - my slides are available here. In it I argued that the Budget should focus on growth and...
Revisions to UK GDP Growth
The ONS yesterday released the third estimate of GDP figures for the first quarter of 2013 where growth was revised down from 0.6% to 0.3%. The revisions to recent historical data also erased the "double-dip" recession that was thought to have occurred in in the first quarter of 2012. Growth in 2012...
Monday Blog: We need a change of course and we need it now
While caution is always advisable in examining the latest quarterly data, the release by the Central Statistics Office of the latest quarterly national accounts was something of a wake-up call to those eager for news of a recovery. The Republic of Ireland is in a deep stagnation. The downturn has...
The Productivity Puzzle and Northern Ireland
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...
Monday Blog: Investment is still the key
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...
Images from first Annual Dónal Nevin Lecture - 2013
Below is a selection of pictures of the first annual Donal Nevin Lecture given by President Michael D. Higgins.
Monday Blog: President gives inaugural Donal Nevin lecture
President M.D. Higgins speaking with 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...
Monday Blog: If Governments were really only like households
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...
Fiscal Stimulus, Unemployment and House Prices
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...