IDEAS home Printed from https://ideas.repec.org/p/bdi/opques/qef_471_18.html
   My bibliography  Save this paper

The Irish GDP in 2016. After the disaster comes a dilemma

Author

Listed:
  • Roberto Tedeschi

    (Bank of Italy)

Abstract

The paper examines the disruption of statistics with the publication of the 2015 Ireland GDP at +26.3 per cent year on year. The figure was greeted by international disbelief. Ireland�s statistical authorities reacted with the publication, for the main aggregates, of modified data in parallel with the official one, much less affected by the bias on value added. The bias resulted from the relocation in Ireland of a huge amount of intellectual property capital, of the dimension of the GDP itself.To fix the link between statistical representation and economic fact means to depart from the legal form to let the substance prevail, i.e. depart from the description given by business reports and administrative data.

Suggested Citation

  • Roberto Tedeschi, 2018. "The Irish GDP in 2016. After the disaster comes a dilemma," Questioni di Economia e Finanza (Occasional Papers) 471, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_471_18
    as

    Download full text from publisher

    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2018-0471/QEF_471_18.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Robert E. Lipsey, 2010. "Measuring The Location Of Production In A World Of Intangible Productive Assets, Fdi, And Intrafirm Trade," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 99-110, June.
    2. Lane, Philip R., 2017. "The Treatment of Global Firms in National Accounts," Economic Letters 01/EL/17, Central Bank of Ireland.
    3. Thomas Tørsløv & Ludvig Wier & Gabriel Zucman, 2023. "The Missing Profits of Nations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 90(3), pages 1499-1534.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Valerio Della Corte & Claire Giordano, 2021. "Methodological issues in the estimation of current account imbalances," Questioni di Economia e Finanza (Occasional Papers) 617, Bank of Italy, Economic Research and International Relations Area.
    2. Baccaro, Lucio & Hadziabdic, Sinisa, 2022. "Operationalizing growth models," MPIfG Discussion Paper 22/6, Max Planck Institute for the Study of Societies.
    3. Riccardo De Bonis & Matteo Piazza, 2021. "A silent revolution. How central bank statistics have changed in the last 25 years," PSL Quarterly Review, Economia civile, vol. 74(299), pages 347-371.
    4. Marie-Baïanne Khder & Jérémi Montornès & Nicolas Ragache, 2020. "Irish GDP Growth in 2015: A Puzzle and Propositions for a Solution," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 517-518-5, pages 173-190.
    5. Ergen, Timur & Kohl, Sebastian & Braun, Benjamin, 2021. "Firm foundations: The statistical footprint of multinational corporations as a problem for political economy," MPIfG Discussion Paper 21/5, Max Planck Institute for the Study of Societies.
    6. Nadia Accoto & Stefano Federico & Giacomo Oddo, 2023. "Trade in services related to intangibles and the profit shifting hypothesis," Temi di discussione (Economic working papers) 1414, Bank of Italy, Economic Research and International Relations Area.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gustavo Adler & Mr. Daniel Garcia-Macia & Signe Krogstrup, 2019. "The Measurement of External Accounts," IMF Working Papers 2019/132, International Monetary Fund.
    2. Jiménez, Valeria, 2020. "Wage shares and demand regimes in Central America: An empirical analysis for Costa Rica, El Salvador, Honduras, Nicaragua, and Panama, 1970-2016," IPE Working Papers 151/2020, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    3. Stieglitz, Moritz & Setzer, Ralph, 2022. "Firm-level employment, labour market reforms, and bank distress," Journal of International Money and Finance, Elsevier, vol. 120(C).
    4. Fuest, Clemens & Hugger, Felix & Neumeier, Florian, 2022. "Corporate profit shifting and the role of tax havens: Evidence from German country-by-country reporting data," Journal of Economic Behavior & Organization, Elsevier, vol. 194(C), pages 454-477.
    5. Galstyan, Vahagn & Herzberg, Valerie, 2018. "External Balance Sheet Risks in Ireland," Financial Stability Notes 09-18, Central Bank of Ireland.
    6. Obstfeld, Maurice, 2012. "Financial flows, financial crises, and global imbalances," Journal of International Money and Finance, Elsevier, vol. 31(3), pages 469-480.
    7. Malin Andersson & Nina Blatnik & Stephen Byrne & Lorenz Emter & Valerie Jarvis & Belén Gonzalez Pardo & Martin Schmitz & Nico Zorell & Christoph Zwick, 2024. "Intangible assets of multinational enterprises in Ireland and their impact on euro area activity," IFC Bulletins chapters, in: Bank for International Settlements (ed.), External statistics in a fragmented and uncertain world, volume 62, Bank for International Settlements.
    8. Riccardo De Bonis & Matteo Piazza, 2021. "A silent revolution. How central bank statistics have changed in the last 25 years," PSL Quarterly Review, Economia civile, vol. 74(299), pages 347-371.
    9. Johannesen, Niels, 2022. "The global minimum tax," Journal of Public Economics, Elsevier, vol. 212(C).
    10. European Commission, 2018. "Tax Policies in the European Union: 2018 Survey," Taxation Survey 2018, Directorate General Taxation and Customs Union, European Commission.
    11. Müller, Jens & Weinrich, Arndt, 2020. "Tax knowledge diffusion via strategic alliances," arqus Discussion Papers in Quantitative Tax Research 253, arqus - Arbeitskreis Quantitative Steuerlehre.
    12. Becker, Johannes & Wilson, John D., 2023. "Tax competition with two tax instruments — and tax base erosion," Journal of Public Economics, Elsevier, vol. 225(C).
    13. Lisa Evers & Helen Miller & Christoph Spengel, 2015. "Intellectual property box regimes: effective tax rates and tax policy considerations," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 22(3), pages 502-530, June.
    14. James Alm, 2024. "Tax Compliance, Technology, Trust, and Inequality in a Post-Pandemic World," Working Papers 2404, Tulane University, Department of Economics.
    15. Bricongne, Jean-Charles & Delpeuch, Samuel & Lopez-Forero, Margarita, 2023. "Productivity slowdown and tax havens: Where is measured value creation?," Journal of International Economics, Elsevier, vol. 143(C).
    16. Dominika Langenmayr & Franz Reiter, 2022. "Trading offshore: evidence on banks’ tax avoidance," Scandinavian Journal of Economics, Wiley Blackwell, vol. 124(3), pages 797-837, July.
    17. Daniel Albalate & Germà Bel & Ferran A. Mazaira‐Font, 2022. "Geography and regional economic growth: The high cost of deviating from nature," Journal of Regional Science, Wiley Blackwell, vol. 62(2), pages 360-388, March.
    18. Jennifer Bruner & Dylan G. Rassier & Kim J. Ruhl, 2018. "Multinational Profit Shifting and Measures throughout Economic Accounts," NBER Chapters, in: Challenges of Globalization in the Measurement of National Accounts, pages 153-205, National Bureau of Economic Research, Inc.
    19. Bilicka, Katarzyna & Scur, Daniela, 2024. "Organizational capacity and profit shifting," Journal of Public Economics, Elsevier, vol. 238(C).
    20. Katarzyna A. Bilicka & André Seidel, 2022. "Measuring Firm Activity from Outer Space," NBER Working Papers 29945, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    macroeconomic data estimation; impacts of globalisation;

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bdi:opques:qef_471_18. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/bdigvit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.