New WEO is here. Box 1.1 “Are We Underestimating Short-Term Fiscal Multipliers?” by Blanchard and Leigh is attracting a lot of attention. Of local interest is that it turns out that Ireland is not a country for which the IMF was too optimistic about growth (for the time period studied here) – its Spring 2010 growth forecast for the 2010-2011 period was pretty accurate (for GDP).
New FM is here. The theme of the FM is “Taking Stock: A Progress Report on Fiscal Adjustment”. Box 8 is “Ireland: The Impact of Crisis and Fiscal Policies on Inequality”, which finds the adjustment to be progressive in cumulative terms here. It also notes that “Ireland’s 2010 at-risk-of-poverty gap” is the second lowest in Europe.