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Economy and Finance
Scientific paper

Using financial variables to estimate the Irish output gap: do they make a difference?

Details

Identification
Economic Brief 4
Publication date
1 December 2015
Authors
Mirzha de Manuel Aramendía | Rafal Raciborski | Directorate-General for Economic and Financial Affairs
Country
Ireland

Description

Standard potential output estimates during Ireland’s housing boom failed to detect the build-up of imbalances and risks to the country’s public finances. This paper looks at an alternative methodology, including financial variables such as property prices and bank credit, which would have supported a more cautious assessment at the time.

Information and identifiers

Economic Briefs 4. December 2015. Brussels. PDF. 16pp. Tab. Graph. Bibliogr. Free.)

KC-BE-15-004-EN-N (online)    
ISBN 978-92-79-48744-6 (online)    
ISSN 2443-8030 (online)    
doi: 10.2765/619075 (online)   

JEL classification: E320

Disclaimer

European Economy Economic Briefs are written by the staff of the European Commission’s Directorate-General for Economic and Financial Affairs to inform discussion on economic policy and to stimulate debate.
The views expressed in this document are solely those of the author(s) and do not necessarily represent the official views of the European Commission.

 

Using financial variables to estimate the Irish output gap: do they make a difference?

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Using financial variables to estimate the Irish output gap: do they make a difference?
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