Abstract: This project examines how financial crises impact on the medium-term dynamics of macroeconomic aggregates in small open economies. In particular, it focuses on the role of financial factors, including housing and financial wealth, in the precipitation of the crisis and their influence on the recovery path following the crisis. From a policy perspective, this research aims to inform the debate about the persistent impact of crises on an economy?s potential output.
The ESRI works towards a national vision of ‘Informed policy for a better Ireland’. This means producing high-quality analysis to provide robust evidence for policymaking, with the goals of research excellence and policy impact.
The ESRI produces research that contributes to understanding economic and social change in the new international context and that informs public policymaking and civil society in Ireland.