@pbergsen@DomWh1te I guess what's interesting this time is that we had an actual inflation shock, it persisted (household expectations were wrong), and expectations still tracked the price growth rate! Even medium term expectations 'anchored'.
OUT NOW: Vol 30 No 1!
Where @mbreen3 and @ElliottDoak analyse the political and economic effects of the International Monetary Fund’s (IMF) monitoring activities.
https://t.co/TST5AJCZtz
Excellent wonkery here from my colleague @TimoneyKevin for anyone thinking about Ireland's revenue developments in the coming years (and that structure of the economy more generally)
Ireland’s income tax system is progressive. In 2019, 40% of total employee taxes were paid by the five sectors with the highest hourly wages, including ICT and financial sectors. The five sectors with the lowest hourly wages contributed 22%. 3/4
The Council is launching a new database of the Irish public finances since the foundation of the State – join our webinar on tax and spending trends over the past century with Professor Patrick Honohan on Thursday 21 April 21 at 10am by signing up here: https://t.co/6mGfGHZuov
If the pension age is kept at 66 rather than increased with life expectancy, further tax increases would be needed. This would require a further €800 for the typical worker at average wages.
Our Chief Economist, Eddie Casey, has an article in today’s Irish Times discussing state pension sustainability. You can read it here: https://t.co/JH3OqGwdYj
My new paper with @ElliottDoak is just out in @RIPEJournal - open access. Thanks to our IPE friends and colleagues for great feedback as we developed it! @LawGovDCU
The IMF as a global monitor: surveillance, information, and financial markets https://t.co/GBsP96Esw4
The Council has a new Analytical Note by Niall Conroy, Eddie Casey, and Elliott Jordan-Doak on the Government’s public investment plans as set out in the National Development Plan. The plans should help to meet needs in housing, health and climate areas. https://t.co/81KROSzAVx
The Tánaiste’s claim on RTE’s “This Week” yesterday that the Fiscal Council failed to predict that the Government would reach budget balance is unfounded. The Council’s role is to assess official forecasts and highlight risks. It did not make fiscal forecasts in those years.
Only 'evidence' I take from this patronising spectacle is that #NPHET don't trust the public,even after months of compliance with world beating levels of restrictions. One of the lessons of Covid must be that comm' with the public is overhauled.This won't be the final pandemic.
Why talk about the need for "scientific evidence" on the efficacy on antigen tests then produce this useless demonstration? Why waste the Oireachtas time when you can do this in a press conference? Is this the best demonstration that can be done 15 months into the pandemic?
Tomorrow's webinar with our chief economist and chairperson discussing our latest fiscal assessment report. Some great work in the report from the guys and addresses some of the big challenges facing the Irish economy over the next few years. Register below:
You can join a Webinar on the release by the Council’s Chairperson, Sebastian Barnes, at 2pm Dublin time 1 June 2021. Register at https://t.co/Rt0M3MOsVl