A reason for revising the EU fiscal rules in the early 2010s was to improve member states' forecasts against a background of documented biases in official projections. Using data from Stability and Convergence Programmes and the European Commission's Spring Forecasts, evidence is presented which...

Blanchard and Leigh (2013, 2014) find fiscal multipliers to be underestimated in the EU in the deep recession of the early 2010s. Using two 2013-2018 datasets for 26 EU member states, assembled from Stability and Convergence Programmes and the European Commission's Spring Forecasts, we show that...

Data from member states' Stability and Convergence Programmes from 2011 to 2018 are used to assess the cyclicality of government consumption in the EU after the European Semester took effect. Econometric estimations, which address endogeneity issues, find the intended (ex-ante) fiscal policy to...

In this paper, we use unique supervisory property-level rental data to estimate a rental equivalence (RE) measure for owner-occupied housing (OOH) for the Irish housing market. Our data from the official, domestic rental regulator allow us to simultaneously address three significant issues which...

The Bank’s Macro-Econometric model has recently been revised. This paper outlines the context within which the model was initially built and the reasons for the revision and re-estimation. Compilation of the data used was a key component of the revision and this is described. The general...

Output per worker can be expressed as a function of technological efficiency and of the capital-output ratio. Because technology is exogenous in the Solow model, all of the endogenous convergence dynamics take place through the adjustment of the capital-output ratio. This paper uses the...

This paper proposes that a variant of the Battese and Coelli (1995) inefficiency model can be applied as a consistent and unifying framework in exploring the determinants of credit institutions’ profit inefficiency scores. To date, work concerned with the potential determinants of credit...

This paper presents aggregated cost efficiency scores for a balanced panel of British and Irish credit institutions and relates these scores to loan loss reserves as a first step in investigating their usefulness as possible indicators of financial fragility. The efficiency scores are oobtained...