Arbeitspapier

Crisis, Response and Distributional Impact: The Case of Ireland

Ireland is one of the countries most severely affected by the Great Recession. National income fell by more than 10 per cent between 2007 and 2012, as a result of the bursting of a remarkable property bubble, an exceptionally severe banking crisis, and deep fiscal adjustment. This paper examines the income distribution consequences of the recession, and identifies the impact of a broad range of austerity policies on the income distribution. The overall fall in income was just under 8 per cent between 2008 and 2011, but the greatest losses were strongly concentrated on the bottom and top deciles. Tax, welfare and public sector pay changes over the 2008 to 2012 period gave rise to lower than average losses for the bottom decile. Thus, the larger than average losses observed overall are not due to these policy changes; instead, the main driving factors are the direct effects of the recession itself. Policy changes do contribute to the larger than average losses at high income levels.

Sprache
Englisch

Erschienen in
Series: IZA Discussion Papers ; No. 7481

Klassifikation
Wirtschaft
Personal Income, Wealth, and Their Distributions
Positive Analysis of Policy Formulation and Implementation
Thema
recession
income distribution
tax
welfare

Ereignis
Geistige Schöpfung
(wer)
Callan, Tim
Nolan, Brian
Keane, Claire
Savage, Michael
Walsh, John R.
Ereignis
Veröffentlichung
(wer)
Institute for the Study of Labor (IZA)
(wo)
Bonn
(wann)
2013

Handle
Letzte Aktualisierung
10.03.2025, 11:43 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Callan, Tim
  • Nolan, Brian
  • Keane, Claire
  • Savage, Michael
  • Walsh, John R.
  • Institute for the Study of Labor (IZA)

Entstanden

  • 2013

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