Agur, Itai; Demertzis, Maria
HHow does monetary policy impact upon macroprudential regulation?
This paper models monetary policy’s transmission to bank risk
taking, and its interaction with a regulator’s optimization problem.
The regulator uses its macroprudential tool, a leverage ratio, to
maintain financial stability, while taking account of the impact
on credit provision. A change in the monetary policy rate tilts
the regulator’s entire trade-off. We show that the regulator allows
interest rate changes to partly “pass through” to bank soundness by
not neutralizing the risk-taking channel of monetary policy. Thus,
monetary policy affects financial stability, even in the presence of
Mariot, Nicolas; Rowell, Jay
This paper seeks to explore the problems and potentialities of asymmetrical historical comparison by examining visits by heads of State to the provinces in Germany and France on the eve of WW I. This act of political legitimisation and representation is analysed through the lens of the practical organization of the event understood as an administrative routine, thereby bringing into question many of the categories routinely mobilised to describe and to oppose two models of national integration.
Drawing upon the analytical tools defined in the inception paper1 for Work package 5 of the EL-CSID project, this paper assesses the willingness, capacity and acceptance sustaining EU broadly-defined Cultural Diplomacy (CD) in the MENA region. The resulting qualitative mapping focuses on policies and initiatives which foster regional cooperation, both around the Mediterranean and among southern countries. The use of cultural tools in EU relations with the Arab world and Israel has received widespread commitment, based on its potential to foster peaceful relations, create opportunities for development and possibly lead towards a convergence of civilisations. The EU and its partners...
Schiffbauer, Marc; Siedschlag, Iulia; Ruane, Frances
This paper examines the causal relationship between foreign mergers and acquisitions and firm productivity in the UK over the period 1999-2007. Our results raise questions about the existence of aggregate effects of foreign ownership on TFP in the longer-run. However, we find significant heterogeneity in the TFP effects of foreign M&A at the industry level. Overall, we uncover a systematic pattern of post-acquisition TFP effects that is consistent with the most recent theoretical models of firm heterogeneity and cross-border mergers and acquisitions as mode of foreign entry. Furthermore, we find positive aggregate effects on labor productivity due to capital deepening...
The Russian Federation presents a rich pattern of different nationalities within its population and represents a unique, original model of governance of ethnic diversity. This mode is based on both territorial and non-territorial instruments. The former are based on the 22 'ethnic' Republics (21 + Crimea), which have a titular nationality each; the latter on the Federal normative framework and on the system of the Non-Territorial Cultural Autonomies.
This article describes the Russian model, first considering its historical background (with particular reference to the Soviet legacy) and then analyzing the inherent legislation. In particular, the article takes into account the Constitution...
Callan, T.; Nolan, B.; Keane, C.; Savage, M.; Walsh, J.R.
Ireland is one of the countries most severely affected by the Great Recession. National income fell by more than 10 per cent between 2007 and 2012, as a result of the bursting of a remarkable property bubble, an exceptionally severe banking crisis, and deep fiscal adjustment. This paper examines the income distribution consequences of the recession, and identifies the impact of a broad range of austerity policies on the income distribution. The overall fall in income was just under 8 per cent between 2008 and 2011, but the greatest losses were strongly concentrated on the bottom and top deciles. Tax,...
Leahy, Eimear; Lyons, Sean; Walsh, Sharon
Past research into the determinants of appliance ownership has identified associations with socioeconomic characteristics of households. Few studies have examined the intensity with which different sorts of households use the appliances they have. This paper uses microdata to examine the factors influencing ownership and usage of electrical appliances in Irish households. We also consider the factors influencing the ownership of different cooker types, space and water heating systems and energy saving features. We find that appliance ownership and usage is
related to the socio‐economic characteristics of the household’s chief income earner as well as household characteristics such as the type...
In the late 1990s I chose the Common Travel Area (CTA) as the topic of a research paper I did as a Visiting Fellow at Trinity College Dublin. This was in the wake of opt‐outs by the Irish and British governments from the incorporation of the Schengen Agreement on the free movement of persons into the Treaty of Amsterdam. My intention was to explore the conditions under which an Irish government might see its interests as lying with EU freedom of movement rather than in the continuation of the CTA with the United Kingdom (UK). I was also interested in...
Tol, Richard S.J.; Leahy, Eimear; Lyons, Sean
Vegetarianism is increasing in the western world. Anecdotally, this trend can be attributed to heightened health, environmental and animal welfare concerns. In this paper we investigate the factors associated with vegetarianism among adults in Ireland. Using the 2007 Survey of Lifestyles, Attitudes and Nutrition, we use a logit model to assess the relationship between vegetarianism and the socioeconomic and personal characteristics of the respondents. We also analyse the factors associated with varying levels of meat consumption using an ordered logit model. This paper adds to the existing literature as it is the first paper to estimate the determinants of vegetarianism...
This paper tests whether households that are offered broadband service for the first time tend to delay in taking it up. Using cross-sectional data on broadband take-up and socioeconomic characteristics of small areas in Ireland, linked to GIS data on ADSL availability, I find that local adoption rates are positively associated with the time elapsed since service was first offered. The strength of this association increases for the first two years after local enabling of service and then decreases to zero after about five years. The paper also includes estimates of the effect of various household characteristics on adoption, finding...
Leahy, Eimear; Tol, Richard S.J.
This paper estimates the value of short term lost load in the all island electricity market which includes the Republic of Ireland and Northern Ireland. The value of lost load, also known as the value of security of electricity supply, is inferred using a production function approach. Detailed electricity use data for the Republic of Ireland allows us to estimate the value of lost load by time of day, time of week and type of user. We find that the value of lost load is highest in the residential sector in both the Republic of Ireland and Northern Ireland. Our...
Hennessy, Hugh; Tol, Richard S.J.
We examine the impact of recent tax reforms in Ireland on private car transport and its greenhouse gas emissions. A carbon tax was introduced on fuels, and purchase (vehicle registration) and ownership (motor) taxes were switched from engine size to potential emissions. We use a demographic model of the car stock (by age, size, and fuel) and a car purchase model that reflects the heterogeneous distribution of mileage and usage costs across various engine sizes. The model shows a dramatic shift from petrol to diesel cars, particularly for large engines. The same pattern is observed in the latest data on...
Scott, Sue; Watson, Dorothy
This working paper supplements the report by Scott and Watson (2006) published by the Environmental Protection Agency. That report found that a weight-based charging regime introduced in West Cork (in the town of Clonakilty) in 2003 reduced the weight of waste put out by residents by 45 per cent. Results from recent studies are consistent with this finding, with reductions of 47 per cent and 43 per cent from weight-based charges found by O’Callaghan-Platt and Davies (2008) and Curtis et al (2009), respectively. The question still remains as to whether or not the charging reform was worthwhile. This paper addresses...
Kelly, Elish; McGuinness, Seamus; O'Connell, Philip
This paper provides a sub-sectoral analysis of changes in the public-private sector pay gap in Ireland between 2003 and 2006. We find that between March 2003 and October 2006 the public sector pay premium increased from 14 to 26 per cent and that there was substantial variation between subsectors of the public service. Within the public service the premium in 2006 was highest in Education and Security Services and lowest in the Civil Service and Local Authorities. In the private sector the pay penalty in
2006, relative to the public sector, was most severe in Hotels & Restaurants and in Wholesale...
Kelly, Elish; Barrett, Alan; Bergin, Adele
We estimate the impact of immigration on the wages of natives in Ireland applying the technique proposed by Borjas (2003). Under this method, the labour market is divided into a number of skill cells, where the cells are defined by groups with similar levels of experience and education (or experience and occupation). Regression analysis is then employed to assess whether the average wages of natives across skill cells is affected by the share of immigrants across cells. When the cells are based on education/experience, our results suggest a negative relationship between native wages and immigrant shares. However, the opposite appears...
Layte, Richard; O'Hara, Sinead; Bennett, Kathleen
Background: Deaths from circulatory respiratory causes among older age groups in Ireland fell sharply between 1995 and 2005 as did the seasonality of deaths from these causes.Objective:To examine whether a structural break has occurred in deaths from circulatory causes in Ireland between 1995 and 2005 and test whether this can be explained by changes in the prescribing of cardiovascular medications during the same period controlling for weather trends. Methods: Grouped logit Time series models were used to identify if and at which quarter a structural break occurred in Irish circulatory deaths between 1995 and 2005. Data on cardiovascular prescribing and...
Using hospital discharge data covering the period 1999-2004, the purpose of this paper is to examine the determinants of avoidable hospitalisations in Ireland, with a particular focus on the role of eligibility for free primary health care. Avoidable hospitalisations are those that are potentially avoidable with timely and effective access to primary care services and/or that can be treated more appropriately in a primary care setting, and are often used as an indicator of access to primary care. The issue is particularly relevant for Ireland, where access to free primary care is restricted to those on low incomes (with approximately...
Pisati, Maurizio; Whelan, Christopher T.; Lucchini, Mario; Maitre, Bertrand
The development of conceptual frameworks for the analysis of social exclusion has somewhat out-stripped related methodological developments. This paper seeks to contribute to this process through the application of self-organising maps (SOMs) to the analysis of a detailed set of material deprivation indicators relating to the Irish case. The SOM approach allows us to offer a differentiated and interpretable picture of the structure of multiple deprivation in contemporary Ireland. Employing this approach, we identify 16 clusters characterised by distinct profiles across 42 deprivation indicators. Exploratory analyses demonstrate that position in the income distribution varies systematically by cluster membership. Moreover, in...
Only a few research papers have analysed the spatial distribution of economic activity in Ireland. There are a number of reasons for this, not least the fact that comprehensive data on the location of economic activity by sector across all sectors has not been available at the highly disaggregated spatial level. This paper firstly establishes the geographic distribution of employment at the 2 digit NACE level, using a novel approach that utilises a special tabulation from the CSO 2006 Census of Population Place of Work Anonymised Records (POWCAR). It then analyses the spatial patterns of this distribution using maps and...
Kelly, Elish; McGuinness, Seamus; O'Connell, Philip
This paper uses data from the 2003 and 2006 National Employment Surveys to analyse the public-private sector wage gap in Ireland. In particular, we investigate the impact of awards implemented under a number of wage setting institutions on the pay differential. These include the pay increases awarded by the Public Service Benchmarking Body in its first report and the increases given to higher-level posts in the public sector by the Review Body on Higher Remuneration in the Public Sector, Reports No. 40 and 41. The pay increases that were awarded under the Social Partnership process in Sustaining Progress and the...