Brendan Burgess
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Distinctive Features of the Irish Banking Crisis
Professor Patrick Honohan
Discussants: Prof. Karl Whelan (UCD) and Prof. Niamh Hardiman (UCD)
Hybrid Meeting
UCD Room D201 Newman Building
Thursday October 26th at 5.30pm
Register here
The Statistical & Social Inquiry Society of Ireland invites you to attend the 1st Ordinary Meeting of its 177th session. Professor Patrick Honohan, TCD and formerly the Central Bank of Ireland, will present a paper entitled "Distinctive Features of the Irish Banking Crisis". An abstract is given below and a draft paper is available www.ssisi.ie
Abstract: The paper reviews the causes, evolution and resolution of the severe property-related macro-financial boom and bust that crippled the Irish economy 2008-13. Among the distinctive features were a blanket government guarantee of banking liabilities, a run on the national banking system financed by a supranational central bank, and a sovereign-bank funding-cost doom loop. There were missteps in both the private and official sectors, at home and abroad, as the authorities felt their way towards corrective policies that were ultimately effective.
The meeting will have a hybrid format, with an opportunity to attend physically at UCD, Room D201, Newman Building (Economics) or online at 5:30pm.
As ever, non-members are welcome to attend and participate in the discussion and we hope that you would circulate to others who may be interested so that they may also register their interest and attend on the day.
Kind regards,
John Evans (Honorary Secretary)