In Ireland, real property prices increased at an average of 12 per cent annum from 1996 to 2002 with residential mortgage credit also increasing substantially. this paper, the relationship between domestic bank and Irish house is examined empirically. Using a number econometric approaches, we find evidence long‐run mutually reinforcing relationship. The results are used underpin short‐run system housing sector. Simulations then conducted reveal response once‐off increases in key explanatory...

Purpose This paper aims to examine the implications for Irish housing market of economic slowdown due Covid-19 virus. Design/methodology/approach In this paper, an inverted demand function is augmented include a residential activity variable and estimate impact on house prices decline in virus-related measures. The likely future path based two different recovery scenarios also examined. Under both are forecast near term. Findings scenario analysis presented here indicates that set fall over...

In any data set with individual forecasts of economic variables, some forecasters will perform better than others. However, it is possible that these ex post differences reflect sampling variation and thus overstate the ante between forecasters. this paper, we present a simple test null hypothesis all in U.S. Survey Professional Forecasters have equal ability. We construct statistic reflects both relative absolute performance forecaster use bootstrap techniques to compare empirical results...

The rapid increase in credit an economy is now commonly perceived to be one of the leading indicators financial instability. This view has been reinforced by aftermath international crisis, which commenced mid 2007. A key policy response focus on ratio private sector GDP for economy, observing, particular, significant deviations between actual and long-run trends ratio. paper examines issue steady-state relationship case Ireland, a country which, even standards, experienced sizeable...

To date, work concerned with the potential determinants of credit institutions’ profit inefficiency levels has addressed this issue in either a single-step or multi-step process. In former, scores are conditioned by region and bank-specific indicators, while latter, generated subsequently regressed on set correlates. The approach proposed here allows these issues to be explored jointly statistically consistent manner. model is applied sample banks from Ireland, UK, Canada Australia.

Journal Article Solow ( ) as a model of cross-country growth dynamics Get access Kieran McQuinn, McQuinn * Central Bank and Financial Services Authority Ireland, e-mail: kmcquinn@centralbank.ie ; karl.whelan@centralbank.ie Search for other works by this author on: Oxford Academic Google Scholar Karl Whelan Review Economic Policy, Volume 23, Issue 1, Spring 2007, Pages 45–62, https://doi.org/10.1093/oxrep/grm009 Published: 01 March 2007

Abstract The tightening of monetary policy in response to the recently observed surge inflation has focussed attention on potential impact changes rates European mortgage holders. Central this question is pass-through rate charged residential markets across Euro Area as housing costs have contributed significantly recent inflationary pressures. In particular, how much and quickly does change a particular member country’s market? effectiveness transmission mechanism been impaired number ways...

<i>The signing of the Kyoto Protocol and official recognition forestry's capacity to sequester carbon has prompted considerable interest, within European Union, in forestry as a competing land use application. However, despite large increases grants forestry, afforestation rates, certain EU countries, are below national targets. In this paper, we employ real options model theoretically explain why farmers may be slow switch from traditional agriculture forestry. The theoretical is then used...

Using a unique combination of regulatory and survey microdata, we examine the importance life cycle theory consumption in estimating housing wealth effects for Irish mortgage market. Since recent financial crisis, this market has experienced substantial house price declines negative equity. Thus, expectations are likely to be important influencing effects. We find positive correlation between changes among our sample mortgaged households. Furthermore, that association only exists when...

A distinguishing feature of the period preceding 2007/2008 financial crisis was sizeable increase in private sector debt observed across many countries. key component household liabilities is mortgage and with countries experiencing persistent increases house prices from mid‐1990s, a marked this aspect leverage observed. While aggregate statistics confirm reductions personal levels recent years, relatively few sources micro data are available to examine nature deleveraging process at level....