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The financial crisis and its aftermath: the case of Ireland

Bas van Aarle, Joris Tielens () and Jan Van Hove ()

International Economics and Economic Policy, 2015, vol. 12, issue 3, 393-410

Abstract: This paper uses a stylized budgeting and growth framework to analyze the effects of various shocks on public finances and growth. The framework is applied to the case of Ireland, where recently these shocks have played an important role. Ireland was strongly affected by the global financial crisis and the collapse of a housing price bubble caused a deep recession and budgetary instability. We focus on the impacts of primary fiscal balance shocks, growth and interest rate shocks on budgetary sustainability and growth. A scenario analysis of budgetary adjustment in the short and medium run under alternative hypotheses is carried out to assess Irish fiscal sustainability and growth. Copyright Springer-Verlag Berlin Heidelberg 2015

Keywords: Ireland; Fiscal policy and fiscal sustainability; Financial sector bailouts; Growth (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/s10368-014-0305-8

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