A century ago, and for most of the twentieth century, Ireland was a land of emigration, not immigration. However, in the space of less than a decade in the 2000s, Ireland was transformed from a homogeneous community, where nonnative residents were in a very small minority, to one in which...

Given the huge size, relatively speaking, of the human influx into Ireland over the past decade or so, the evolution of Irish attitudes to immigration is of more than parochial interest. In this paper we use the six rounds of the European Social Survey (2002-2012) in seeking to account for those...

This paper studies public opinion in the context of strong social norms that can induce conformity and self-censorship. We present a model that highlights how social pressure can affect the public expression of opinion either through a change in publicly stated views (conformity) or by inducing...

A commonly expressed concern about immigration is that it undermines social cohesion in the receiving country. In this paper, we study the impact of a large and sudden inflow of asylum seekers on several indicators of social cohesion. In 2015/16, over one million asylum seekers from Syria,...

This paper investigates the role of fiscal policies over the aggregate EMU business cycle. Previous studies, based on the assumption of non-separability between public and private consumption, obtain a large public consumption multiplier, a small fraction of non-Ricardian households and,...

This paper investigates which shocks drive asynchrony of business cycles in the euro area. Thereby, it unites two strands of literature, those on common features and on structural VAR analysis. In particular, we show that the presence of a common cycle implies collinearity of structural impulse...

Using the 2008-09 Global financial crisis and the 2012 Euro area sovereign debt crisis as natural experiments, we investigate the effects of contractions in credit supply on R&D spending in a large sample of European firms. Our identification strategy exploits differences in financial...

Financial supervision focuses on the aggregate (macroprudential) in addition to the individual (microprudential). But an agreed framework for measuring and addressing financial imbalances is lacking. We propose a holistic approach for the financial system as a whole, beyond banking. Building on...

In this paper we estimate a Bayesian vector autoregressive model with factor stochastic volatility in the error term to assess the effects of an uncertainty shock in the Euro area. This allows us to treat macroeconomic uncertainty as a latent quantity during estimation. Only a limited number of...