Today’s ESRI conference is important in directing attention to the operation of the Irish labour market: the conference summary is here.
Author: Philip Lane
Here are the estimates from Davy Research for the different types of property loans held by Irish banks. (Access, however, limited to customers of Davy.)
Their summary: “Gauging the appropriate haircut is a function not just of the asset value; rather, it also hinges on the original loan to value, the vintage of the loan and the provisions made. Our analysis suggests a range of mark to market haircuts: from as low as 5% for loans backed by UK commercial investment property to 44% in the case of loans backed solely by Irish development land.”
Bottom line in terms of state ownership: The base case delivers ownership by the state of 78 percent for AIB and 69 percent for Bank of Ireland.
ANNOUNCING
THE GLOBAL FINANCE ACADEMY CONFERENCE
at the University College Dublin Michael Smurfit Graduate Business School
May 27, 2009
The Global Finance Academy at the University College Dublin Michael Smurfit Graduate Business School would like to announce the 3rd Global Finance Academy Conference. The conference is a one-day event and our speakers include Don Bredin, Claudio Loderer, Philip Molyneux, Maureen O’Hara, Lucio Sarno, and Matthew Spiegel.
The 10th Annual Meeting of the Association for Public Economic Theory takes place at NUI Galway between June 17th and June 20th this year. It will feature over 370 presentations from many of the most prominent economists working in public economics. Presenters include Dennis Mueller, Richard Cornes, Ted Bergstrom, Masimo Morelli and Serge Kolm and there will be plenary talks from Ehud Kalal, Hubert Kempf and Andres Mas-Colell. A preliminary programme is available on the conference web site.
The first registration deadline is May 5th after which registration fees increase by €50. There is a generous discount for students. Registration can only be completed through the conference web site.
Please contact either of the local organizers – Ashley Piggins (ashley.piggins at nuigalway.ie) or Brendan Kennelly (brendan.kennelly at nuigalway.ie) if you have any questions.