Macroeconomics?

ifeelstupid

Hi all
I have to do an essay on how Irelands Property Market performance over the medium term will be driven by macroeconomic events incl. monetary and fiscal policy and the eurozone etc.
I'm flummoxed and don't have a clue where to start so any ideas, research available, pointers etc would be most welcome!

noodler

ifeelstupid wrote: »

Hi all
I have to do an essay on how Irelands Property Market performance over the medium term will be driven by macroeconomic events incl. monetary and fiscal policy and the eurozone etc.
I'm flummoxed and don't have a clue where to start so any ideas, research available, pointers etc would be most welcome!

The preliminary Banking Reports by

1) Regling and Watson

2) The Central Bank Governor - Patrick Honohan


And the Full banking report by Nyberg.

They are lengthy but you will find bullet point summaries if you look hard enough (may even be summaries on the DoF press releases when they were released).

ifeelstupid

Thanks Noodler...will have a look at those.
Am feeling a bit out of my depth with this - mature(ish) student with not a lot of business background!!
It's 2,000 words so I guess I don't go into too much detail and maybe just concentrate on one or two of the main points.

noodler

ifeelstupid wrote: »

Thanks Noodler...will have a look at those.
Am feeling a bit out of my depth with this - mature(ish) student with not a lot of business background!!
It's 2,000 words so I guess I don't go into too much detail and maybe just concentrate on one or two of the main points.

No worries, yeah 2,000 shouldn't be an issue.

The actual reports are here http://www.bankinginquiry.gov.ie/

I see the Nyberg report actually has a summary at the beginning.

The categories for me are:

- The lack of proper risk assessment in the banks, including their failure to properly vet debtors.

- The complete lack of proper regulation (Financial Regulator) and lack of expertise in the DoF

- The 'herd' mentality: More difficult to express perhaps but all the reports do make reference to the general belief in Ireland that prices would continue to increase forever

- The Government's fiscal policies: They were pro-cyclical (i.e. excaerbated the situation), they should have been increase tax on property (stamp duty for example) or at least abolishing tax reliefs.

- Tax base: similar to the last point but we became to reliant on construction-related revenues (which were of a temporary nature).

Not inclusive by any means but they would be the general categories I would be looking at.

ifeelstupid

Thanks again Noodler, thats a great help. Now to get to work!!

happyman81

Morgan Kelly's "famous" working papers might be worth a look.

https://www.google.ie/search?rlz=1C1AVSG_enIE459IE459&aq=f&sourceid=chrome&ie=UTF-8&q=morgan+kelly+working+paper

ifeelstupid

Thanks happyman

ifeelstupid

Thanks again guys for your help:)

Have used ESRI, Morgan Kelly, Ronan Lyons, Nyberg and various other research I have come accross - some useful stuff out there! After a slow start my problem now is keeping it within the 2000 words. Have reached the target but dont have a conclusion in yet so will have to do some creative editing to fit it in.

noodler

ifeelstupid wrote: »

Thanks again guys for your help:)

Have used ESRI, Morgan Kelly, Ronan Lyons, Nyberg and various other research I have come accross - some useful stuff out there! After a slow start my problem now is keeping it within the 2000 words. Have reached the target but dont have a conclusion in yet so will have to do some creative editing to fit it in.

You work fast!

ifeelstupid

Ha...the pressure was on!!
I had brain freeze the last couple weeks and just couldn't get my head around where to start so thanks for giving me some direction - my ambitions are not too lofty on this one but hopefully will have done enough....

Jan Hus

OK, here goes:
Excess money in an economy in general does not stay in cash form. It has to go somewhere and if interest rates are low on stocks it will often go into housing, raising the price of houses