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Current Research In May 2009 the ESRI published a paper looking at how the Irish economy can recover from the current recession (Recovery Scenarios for Ireland). The analysis suggested that three problems needed to be tackled to restore the economy to a sustainable growth path: the major structural deficit in the public finances must be closed; competitiveness must be restored; and the banking system must be transformed so that it can profitably and effectively fund a future recovery. If these conditions are met, once the world economy recovers the Irish economy could see significant growth restoring some, but not all, of the ground lost in the current recession. In 2008 the ESRI published its latest Medium-Term Review analysing the recent behaviour of the Irish economy and the implications of this behaviour for the potential growth rate of the Irish economy in the medium term. In November 2008 a report was published by the ESRI as part of the EUROFRAME Network of European economic research institutes considering the impact of the world recession on the EU economy (Economic Assessment of the Euro Area: Autumn Report 2008). This report fed into the ongoing research underlying the ESRI’s Quarterly Economic Commentary. Over the course of 2008 research was carried out on:
Future Research
The Irish economy is currently undergoing significant structural change. As a result, future research will focus on:
The influence of external developments on Ireland will remain a key feature of the research in this area. Central to the macroeconomics research effort is the development of models to improve understanding of the complicated processes driving the economy. These include the HERMES macroeconomic model, the ESRI’s Demographic Model and, more recently, its Small Labour Market Model. Over the coming years these models will be further developed to integrate insights derived from the microeconomic research carried out elsewhere in the ESRI. For information and links to research relevant to understanding "Ireland in the Recession", click here.Programme Coordinator: John Fitz Gerald Others currently working in this area include: Alan Barrett, Adele Bergin, Thomas Conefrey, David Duffy, Jean Goggin, Stefanie Haller, Ide Kearney, Edgar Morgenroth, and Iulia Siedschlag. |




