Month: May 2012

Debt Overhangs: Past and Present

Reinhart, Reinhart and Rogoff have a new empirical paper here.

ECB on the Fiscal Compact

  • 10/05/2012 – Publication: Article, Monthly Bulletin, May 2012, pp 79-94, A fiscal compact for a stronger Economic and Monetary Union, 222 kb, en

See also:

  • 10/05/2012 – Publication: Article, Monthly Bulletin, May 2012, pp 95-112, Comparing the recent financial crisis in the United States and the euro area with the experience of Japan in the 1990s, 715 kb, en

European Commission Spring Forecasts

The new forecasts have been released.  The Ireland file is here;  the full site is here.

Department of Finance Strategy Statement

Department of Finance Statement of Strategy 2011-2014

Nama Scheme Increases Recorded Property Sales Prices by Approximately 7.5%

In announcing its 80/20 negative equity insurance scheme, Nama management could have, but did not, provide estimates of the implicit cost of the insurance component of the package product. The cost is hidden in the package sales prices, which Nama management describe as “fair value prices” for the property.  With a bit of work, it is possible to reverse-engineer the insurance-component cost from the scanty information provided by Nama. 

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