The Global Financial Crisis and its Budget Impacts in OECD Nations
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The Global Financial Crisis and its Budget Impacts in OECD Nations

Fiscal Responses and Future Challenges

Edited by John Wanna, Evert A. Lindquist and Jouke de Vries

The global financial crisis of 2007–09 constituted the biggest shock to the economies of the OECD nations since the Second World War and caused most of their governments to move into intense crisis mode. They made significant adjustments to their fiscal policy regimes, including massive interventions to stabilize markets and economies. But how they reacted to the crisis, and what measures they took to deal with it, still underpin their economic and budgetary positions. This singular shock provides the editors and authors of this book with an intriguing opportunity to examine how different OECD budgetary systems performed. Chapters cover the EU, North America and Asia, assessing how governments responded to the challenge and how their budget systems evolved in the aftermath.
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Chapter 11: Managing Ireland’s budgets during the rise and fall of the ‘Celtic Tiger’

Richard Boyle and Michael Mulreany

Extract

11. Managing Ireland’s budgets during the rise and fall of the ‘Celtic Tiger’ Richard Boyle and Michael Mulreany The rise and decline of the Irish economy in the 1990s and 2000s has been a dramatic roller-­coaster ride. General government debt as...

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