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Record W2113156090

The Irish Economic Boom: What Can We Learn?

2001· article· en· W2113156090 on OpenAlexaffabout
Pierre Fortin

Bibliographic record

VenueRePEc: Research Papers in Economics · 2001
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicEconomic Growth and Productivity
Canadian institutionsCanadian Institute for Advanced Research
Fundersnot available
KeywordsIrishEconomicsProductivityBoomInvestment (military)Per capitaGross domestic productReal gross domestic productAggregate supplyLabour economicsAggregate demandEconomyEconomic policyEconomic growthMacroeconomicsPolitical scienceMonetary policyEngineering
DOInot available

Abstract

fetched live from OpenAlex

Over the past decade, Ireland’s real domestic product per head has doubled, and its national unemployment rate has declined from 16% to less than 5%. This has made the Republic one of the ten richest countries in the world. This economic ″miracle″ is the joint outcome of a long-term productivity boom dating back to the 1950s and 1960s, and a sudden short-term output and employment boom that has seen Ireland’s job performance recover since 1993 all the ground lost during the previous twenty years. It turns out that Ireland has been remarkably supportive of long-term productivity growth for several decades, through its openness to free international trade and investment, its business-friendly industrial and tax policies, and its free secondary and low-cost higher education. The short-term aggregate demand push since 1993 has been fueled by the solid economic recovery in Europe and the United States, continued improvement in Ireland’s international cost competitiveness, streamlined public finances, and low (net-of-inflation) interest rates. The aggregate supply response to this expansion in demand has included a sharp increase in women’s labour force participation rate, a large flow of new and return immigrants, and massive foreign direct investment, particularly from US multinational corporations. In combination, these developments in labour and capital markets have kept the boom going with no increase in inflation until late 1999. The extended non-inflationary response also owes much to Irish fiscal discipline, consensus-based wage moderation, and participation in the Single European Market and the European Monetary Union. Ireland’s long-term productivity-enhancing policies can be widely imitated or emulated by other countries, including Canada. Policies to promote high employment must take into account country-specific wage-setting institutions and monetary regimes. In general, countries will achieve the lowest sustainable national unemployment rate if they avoid premature monetary tightening, and if they adopt supply-friendly tax, expenditure and regulatory policies that keep unit labour costs low and foster high rates of saving and investment.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.007
metaresearch head score (Gemma)0.022
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Observational · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: none
Teacher disagreement score0.114
Threshold uncertainty score0.228

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0070.022
Meta-epidemiology (narrow)0.0020.001
Meta-epidemiology (broad)0.0030.002
Bibliometrics0.0040.006
Science and technology studies0.0040.006
Scholarly communication0.0220.023
Open science0.0040.007
Research integrity0.0090.017
Insufficient payload (model declined to judge)0.0350.016

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.047
GPT teacher head0.281
Teacher spread0.234 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designObservational
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations4
Published2001
Admission routes2
Has abstractyes

Explore more

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