Irish paper finds more spending could help government’s ‘precarious’ finances

Irish euro

Fiscal stimulus that reduces mortgage arrears is likely to have benefits for the Irish government's finances by reducing the state's future capital obligations, according to a research technical paper published by the Central Bank of Ireland on March 8.

In the paper, On the hook for impaired bank lending, authors Robert Kelly and Kieran McQuinn identify a close relationship between house prices and unemployment. This, they say, implies that government stimulus to reduce unemployment will also

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