Front Matter

Front Matter Page

© 2004 International Monetary Fund

November 2004

IMF Country Report No. 04/349

Ireland: Selected Issues

The Selected Issues paper for Ireland was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on September 22, 2004. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Ireland or the Executive Board of the IMF.

The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information.

To assist the IMF in evaluating the publication policy, reader comments are invited and may be sent by e-mail to

Copies of this report are available to the public from

International Monetary Fund • Publication Services

700 19th Street, N.W. • Washington, D.C. 20431

Telephone: (202) 623-7430 • Telefax: (202) 623-7201

E-mail: • Internet:

Price: $15.00 a copy

International Monetary Fund

Washington, D.C.

Front Matter Page



Selected Issues

Prepared by Keiko Honjo, Benjamin Hunt, Petya Koeva, and Marialuz Moreno Badia (all EUR)

Approved by European Department

September 22, 2004


  • I. Potential Growth After the Boom

    • A. Introduction

    • B. Decomposing Past Output Growth

    • C. Aggregating Future Output Growth

    • D. Concluding Remarks

    • References

  • Figures

  • I.1 Factors Explaining Average Hours

  • Tables

  • I.1 Average Annual Growth Rate of GDP per Capita

  • I.2 Population Estimates

  • I.3 Decomposition of Potential Growth

  • II. Adjustment in the Housing Market

    • A. Introduction

    • B. The Irish Boom in Context

    • C. Analytical Evidence

    • D. Descriptive Evidence

    • E. Concluding Remarks

    • References

  • Figures

  • II.1 Demographics

  • II.2 Housing Supply

  • Tables

  • II.1 Financial Market Liberalization in Ireland

  • II.2 Housing Taxes in European Countries (2001)

  • II.3 Maximum Loan to Value Ratio

  • III. The Competitiveness of Irish Manufacturing: An Update

    • A. Introduction

    • B. Employment-weighted Real Effective Exchange Rate

    • C. Conclusion

    • References

  • IV. The role of Social Partnership Agreements in Ireland: Contributing to the boom and facilitating adjustment to sustainable growth

    • A. Introduction

    • B. Social Partnership Agreements

    • C. The Contribution of Social Partnership Agreements

    • D. The Challenges To Come

    • E. The Social Partnership Process Going Forward

    • F. Conclusions

    • References

  • Boxes

  • IV.1 The Social Partnership Agreements

  • IV.2 The Partners Participating and the Coverage of Sustaining Progress 2003–05

  • Figures

  • IV.1 Wage and Capital Shares in Business Sector Output

  • IV.2 Cross Country Comparison

  • Tables

  • IV.1 Number of Disputes and Work Days Lost

Ireland: Selected Issues
Author: International Monetary Fund