The war in Ukraine and the subsequent increase in energy and other commodity prices has dampened the economic outlook. There are increased downside risks to economic activity and there is also considerable uncertainty around any economic projections and how they may evolve in the future. This...

COSMO is a new structural econometric model of the Irish economy, with a theoretically founded structure and specification. It is designed to be used for medium-term economic projections and policy analysis. This paper outlines the key mechanisms in the model and explores the behaviour of the...

This paper describes the structure and estimation of a structural macro-econometric model of the Northern Ireland economy. We show how it can be used to assess the potential impact of economic shocks and policy changes. Specifically, we have done so by examining the effects of shocks to UK...

This paper outlines the newly developed construction sector which has been incorporated into the ESRI's macroeconometric model, COSMO. Given the importance of the construction sector to the Irish economy, incorporating specific relationships for production, employment and wages in the sector...