Hydraulic Keynesianism

A friend has alerted me to this post on the famous Phillips machine, which several of us learned about in Antoin Murphy’s class years ago. The accompanying video is magnificent. Although Phillips was a New Zealander, I can’t help but be reminded of George Orwell’s comments on the English love of hobbies, in this wonderful essay.

Unemployment and Negative Equity

Ronan Lyon’s final post on this thread is available at this link

By necessity, there is a lot of educated guess-work in the post. For example, the working assumption in Ronan’s analysis is that recent layoffs are as likely to be homeowners as not. Nevertheless, the effects of the double-whammy of unemployment and negative equity affecting Dublin’s commuter belt is an issue that Ronan’s post usefully highlights.

The structure of Irish economic activity during the boom

The CSO has just released a detailed description of sectoral gross output and value added for the years 2002-2006: you can download it here.

By the way, the CSO is celebrating its 60th anniversary with a conference today: the programme is here.

IMF Fiscal Workshop

The IMF is running a workshop on fiscal policy today:  many of the conference presentations can be found here.

Infiniti Finance Conference at TCD

TCD are hosting the Infiniti Conference on International Finance on June 8-9. Full details and booking forms are here. More information below the fold.