This conference will be held at the ESRI on Thursday 28th October from 13:30 to 17:30 and will discuss research results from two IRCHSS-funded projects focused on the effects of globalisation on the Irish economy and related policy responses. The conference programme can be found here. There is no attendance fee, but guests are asked to register here by the 23rd October. Any queries can be addressed to Karen Mayor (karen.mayor@esri.ie).
Author: Iulia Siedschlag
The OECD Innovation Strategy brings together the results of a three-year analysis of innovation and innovation policies.
The Executive Summary of the analytical study can be found here and the Key Findings here. A Compendium of Indicators to measure innovation and monitor the implementation of the strategy can be found here.
An Expert Advisory Group including experts nominated by the governments of member states and other selected governments has provided advice and feedback on the project. As far as I can see in this Expert Advisory Group Ireland is not represented.
Economic policy advice on reducing the risks to macroeconomic and financial stability from the housing market, restoring competitiveness and preparing to adjust in a downturn was available to the Government prior to the financial crisis.
In a research paper which I presented in the plenary session of the Annual Economic Policy Conference in Kenmare on 13 October 2006 (attended by a good number of senior civil servants), after discussing the adjustment mechanisms available to Ireland as a member of the European Economic and Monetary Union, I pointed out four main challenges facing the Irish economy and suggested a combination of policy measures to respond to these challenges. The four challenges that I identified were as follows:
a) maintaining a high potential output growth rate
b) restoring competitiveness
c) managing potential risks to macroeconomic and financial stability from the housing market
d) adjustment to a slowdown in the United States and an expected appreciation of the euro against the dollar
The policy measures suggested to respond to these challenges included the following:
a) fiscal tightening to reduce domestic demand pressures
b) a wage restraint in the public sector
c) fiscal measures to reduce the risks to macroeconomic and financial stability such as phasing out the tax relief on mortgage interest payments, a tax on imputed rents, a broader capital gains tax, or a property tax on vacant of secondary dwellings (as options available to the Government)
d) limits on the use of real estate as collateral to protect the banking system against over lending and bad loans
e) running a large fiscal surplus during the current boom to prepare for a downturn in the world economy
The Irish Times of 14 October 2006 covered extensively my main points. The paper was published in the Quarterly Economic Commentary in March 2007.
The German Council of Economic Experts – an academic body which advises the German Government and the Parliament on economic policy issues has published last week its Annual Report 2009/2010. The related Press Release can be downloaded from here.
A recent international conference held in Brussels discussed strengthening research and research policies in Europe. The Conference Programme addressed issues such as the long term perspectives for research and researchers; developing world-class research infrastructures in Europe; improving funding conditions for European research institutions; research and innovation during the current crisis; priorities for EU research policies post 2010; S&T specialisation; indicators to monitor progress towards the European Research Area and a knowledge-based economy. The papers and presentations can be found here. The conclusions of the conference sessions can be found here.