S&P move to A-

Standard and Poor’s have moved their rating of Irish government bonds from BBB to A- with positive outlook.  The statement they issued is here.

The indicative yield curve (as of 18:00 06/06) for Irish government bonds can be seen in the following table.

Dublin Economics Workshop Annual Conference

The DEW Economic Policy conference is being held this year in Cork on Friday and Saturday October 17 and 18. Venue and hotel booking arrangements will be posted here in due course.

Proposals for papers are welcome. Send a brief outline, preferably before end-August, to s.coffey@ucc.ie.

ECB introduces negative interest rates

Summary press release here.  More details to follow.

Irish Times: Freeze Public Sector Pay for 70 years

This Irish Times article effectively advocates that public sector pay should be frozen in real terms for the next 70 years, with wage growth no higher than inflation –  here.

Albert Saiz presentation in TCD, June 9th

Albert Saiz, a leading urban economist based at MIT, will be giving a special seminar next Monday (June 9th) at 3.30pm, hosted by the Department of Economics at TCD. The talk, which will take place in the IIIS Seminar Room, top floor of the Arts Building in Trinity College Dublin, is entitled: “Immigrant Locations and Native Residential Preferences in Spain: New Ghettos?” An abstract is given below.

Albert is also giving the keynote the following morning (Tuesday 10th) at a workshop hosted by the Policy Institute at TCD on the latest Irish housing market crisis, this time the lack of supply. The event is aimed at policy-makers and other decision-makers in the housing sector. As capacity is limited, if you’re interested in attending, please send me an email (firstname.surname@tcd.ie).

Immigrant Locations and Native Residential Preferences in Spain: New Ghettos?

Abstract: In research we are studying the impact of immigration on native residential mobility in a European context. Before the economic crisis, Spain received an inflow of immigrants roughly equivalent to ten percent of the population in only ten years. We have obtained a massive data-set from the national registry, or Padron – everyone is required by law to register their address after moving to new dwellings. Importantly, all immigrants in Spain need to be inscribed in this municipal registry in order to be eligible for visas, and illegal immigrants can also register. We can identify the exact geo-location of the place of residence for each individual registered in the country – about 45 million- from 1999 to 2008. With this information, we study the residential responses of natives at the very micro level –including across buildings. We are finding fascinating patterns that suggest that immigration and the consequent white-flight that engendered in central cities greatly spurred suburbanization in the larger metropolises.