Quarterly Economic Commentary, Autumn 2007 Special Articles Consumption and House Prices in Ireland by Vincent Hogan and Pat O’Sullivan Preserving Electricity Market Efficiency While Closing Ireland’s Capacity Gap by Seán Lyons, John Fitz Gerald, Niamh McCarthy, Laura Malaguzzi Valeri and Richard S.J. Tol Owner-Occupied Housing Costs and Bias in the Irish Consumer Price Index

Barrett, Alan and Kearney, Ide and O'Brien, Martin (2007) Quarterly Economic Commentary, Autumn 2007 Special Articles Consumption and House Prices in Ireland by Vincent Hogan and Pat O’Sullivan Preserving Electricity Market Efficiency While Closing Ireland’s Capacity Gap by Seán Lyons, John Fitz Gerald, Niamh McCarthy, Laura Malaguzzi Valeri and Richard S.J. Tol Owner-Occupied Housing Costs and Bias in the Irish Consumer Price Index. [Working Paper]

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Abstract

One of the most noteworthy elements within this Commentary is the extent to which we have revised downwards our growth forecast for 2008, relative to our June Commentary. Whereas in the June Commentary, we forecast GNP growth in 2008 of 3.7 per cent, we are now forecasting GNP growth of 2.9 per cent. We have also revised down our growth forecast for 2007, although to a more modest degree; 4.4 per cent, down from the 4.8 per cent forecast of three months ago.

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