Lehigh University organised a conference on the Irish economy last week: the presentations are here.
Author: Philip Lane
The graph below shows projected nominal GDP for the European periphery (plus Germany as a benchmark) over 2007 to 2016, based on the IMF’s new World Economic Outlook database. (Indexed to 2007=100.) It shows that Ireland is projected to return to its 2007 nominal GDP in 2016. While Ireland is projected to be the fastest-growing economy between 2010 and 2016, its initial decline between 2007 and 2010 is far greater than in the rest of the periphery.
Stiglitz and Cragg advocate an alternative approach in this Irish Times article.