What’s in store for the Celtic Tiger?
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|Title:||What’s in store for the Celtic Tiger?||Authors:||Walsh, Brendan M.||Permanent link:||http://hdl.handle.net/10197/1585||Date:||1999||Online since:||2009-11-03T16:18:57Z||Abstract:||In exploring the medium-term prospects for the Irish economy, this article argues that a pessimistic scenario, in which the rapid growth of recent years inevitably ends in a crash, is not plausible. But neither is it realistic to expect a continuation of "Celtic Tiger" growth rates. Under Irish conditions, GNP growth in excess of 3.5% a year leads to fall in unemployment. When "full employment" is reached, further reductions in unemployment lead to rising wage inflation. In the absence of an exchange rate adjustment, high wage inflation leads to a loss of competitiveness. This acts as a break on growth. For these reasons, the realistic medium-term prospect for the Irish economy is that the growth rate will revert to its long run average in the region of 3.5%.||Type of material:||Journal Article||Publisher:||Irish Bankers' Federation||Journal:||Irish Banking Review||Issue:||Spring 1999||Start page:||2||End page:||15||Copyright (published version):||Irish Bankers' Federation, 1999||Subject LCSH:||Economic forecasting--Ireland
Ireland--Economic conditions--21st century
|Language:||en||Status of Item:||Peer reviewed|
|Appears in Collections:||Architecture, Planning and Environmental Policy Research Collection|
Economics Research Collection
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