Year: 2012

The ESRI Responds

ESRI Director Frances Ruane writes an op-ed in today’s Irish Times.  There is also a report, based on an interview with her.

INET Grant for Philip Lane

Congratulations to Philip for the award of an INET grant in the Spring round of grants by the Institute.

New Fiscal Compact Draft

Via the IIEA blog, a new leaked draft of the proposed fiscal compact. Importantly for Ireland, the wording that balanced budget laws need to be “constitutional or equivalent” has been replaced with “preferably constitutional”.

Stop coddling Europe’s banks

So writes Morris Goldstein in this VOX article.

Financial Stability Reports:What Are They Good For?

This IMF working paper looks at the topic of financial stability reports:

Summary: The global financial crisis has renewed policymakers’ interest in improving the policy framework for financial stability, and an open question is to what extent and in what form should financial stability reports be part of it. We examine the recent experience with central banks’ financial stability reports, and find—despite some progress in recent years—that forward-looking perspective and analysis of financial interconnectedness are often lacking. We also find that higher-quality reports tend to be associated with more stable financial environments. However, there is only a weak empirical link between financial stability report publication per se and financial stability. This suggests room for improvement in terms of the quality of financial stability reports.