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The Irish Fiscal Crisis

Author

Listed:
  • Adele Bergin

    (ESRI, Dublin)

  • John Fitz Gerald

    (ESRI, Dublin, John.Fitzgerald@esri.ie)

  • Ide Kearney

    (ESRI, Dublin)

  • Cormac O'Sullivan

    (ESRI, Dublin)

Abstract

This paper considers the origins and characteristics of the current economic crisis in Ireland. In particular, it examines how fiscal policy contributed to the crisis rather than preventing it. The paper gives details of the major fiscal tightening that is under way. By 2014 the authorities will have implemented a package of ex ante cuts equivalent to one-fifth of GDP. The costs of this package, together with the more permanent effects of the recession on potential output, are discussed and the legacy effects of the crisis for government indebtedness are analysed.

Suggested Citation

  • Adele Bergin & John Fitz Gerald & Ide Kearney & Cormac O'Sullivan, 2011. "The Irish Fiscal Crisis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 217(1), pages 47-59, July.
    • Handle: RePEc:sae:niesru:v:217:y:2011:i:1:p:r47-r59
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    Cited by:

    1. Raza, Hamid & Zoega, Gylfi & Kinsella, Stephen, 2018. "Capital inflows, crisis and recovery in small open economies," Finance Research Letters, Elsevier, vol. 27(C), pages 273-282.
    2. Power Bernadette & Ryan Geraldine & Doran Justin, 2020. "A micro-analysis of Irish firm deaths during the financial crisis (2006–2010)," The Irish Journal of Management, Sciendo, vol. 39(1), pages 1-16, August.
    3. Toffolutti, Veronica & Suhrcke, Marc, 2019. "Does austerity really kill?," Economics & Human Biology, Elsevier, vol. 33(C), pages 211-223.
    4. Burke Sara & Brugha Ruairí & Thomas Steve, 2019. "The National Treatment Purchase Fund – A success for some patients yet a public policy failure?," Administration, Sciendo, vol. 67(2), pages 47-69, May.
    5. Schwarzmüller, Tim & Gern, Klaus-Jürgen & Jannsen, Nils & Van Roye, Björn & Scheide, Joachim & Boysen-Hogrefe, Jens & Groll, Dominik, 2011. "Weltkonjunktur im Herbst 2011," Kiel Discussion Papers 494/495, Kiel Institute for the World Economy (IfW Kiel).
    6. Francesca Galli & Aniek Hebinck & Brídín Carroll, 2018. "Addressing food poverty in systems: governance of food assistance in three European countries," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 10(6), pages 1353-1370, December.
    7. Fitz Gerald, John & Kearney, Ide, 2011. "Irish Government Debt and Implied Debt Dynamics: 2011-2015," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), issue 3-Autumn.
    8. Gylfi Zoega, 2019. "Greece and the Western Financial Crisis," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 47(2), pages 113-126, June.
    9. Đurović-Todorović Jadranka & Đorđević Marina & Vuković Marija, 2017. "Fiscal Stress Analysis in the Republic of Serbia," Economic Themes, Sciendo, vol. 55(1), pages 55-69, March.
    10. Brian Lucey & Charles Larkin, 2012. "Risk Tolerance and Demographic Characteristics: Preliminary Irish Evidence," The Institute for International Integration Studies Discussion Paper Series iiisdp406, IIIS.
    11. Durkan, Joe & Duffy, David & O'Sullivan, Cormac, 2011. "Quarterly Economic Commentary, Autumn 2011," Forecasting Report, Economic and Social Research Institute (ESRI), number QEC20113.

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