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Co-benefits of the Irish Carbon Tax and the European Emissions Trading System on Outdoor Air Pollution in Ireland
Full text linkClimate policies designed to cut carbon dioxide (CO2) emissions can also reduce harmful air pollutants, delivering health and environmental co-benefits. Using a computable general equilibrium model for Ireland, this paper examines how carbon taxation and the EU Emissions Trading System (ETS) affect non-CO2 pollutants – NOx, SOx, NH3, PM2.5, PM10, and NMVOC. SOx declines more than CO2 under both policies. Carbon taxation results in greater reductions in transport, services, residential, and agricultural pollutants, whereas sectors covered by the ETS experience larger reductions when ETS prices rise. The response of NH3 emissions is minimal, highlighting the need for specific air pollution measures
POLICY PAPER: FINANCIAL SECTOR POLICY - Saving to Invest? Financial Intermediation in Ireland Since the GFC
Full text linkFinancial intermediation is the process through which savings are channelled into investment. This article studies developments in both sides of this process in Ireland, beginning by studying the savings behaviour of Irish households and the allocation of this wealth across assets. We show that households with the most financial resources are more likely to save and at higher rates, leading them to accumulate larger stocks of assets, which have benefitted most from asset price gains in recent years. We then study the usage of external finance for investment in Ireland, focussing on indigenous businesses. We find that despite their low investment rates in aggregate, a lack of access to finance is rarely a barrier to growth cited by indigenous Irish firms. We finish the paper by discussing the mechanisms that exist to connect household wealth to productive investment in the case of a small and highly-globalised economy such as Ireland, drawing out a range of policy conclusions
Future Proofing Schools: Bringing School Policies into the AI Era
Full text linkThe digital landscape in education has evolved rapidly, necessitating updates to Acceptable Use Policies (AUPs) that reflect current technologies, including Artificial Intelligence (AI). This study analysed the AUPs of 51 large post-primary schools, with student populations exceeding 1,000, uncovering a concerning trend: very few AUPs are current for the Academic Year 2024/25, with many still dating from before 2020. A survey of one-in-seven leaders examined the challenges schools face in updating AUPs to keep pace with rapid digital and AI developments. Given limited guidance from the Department of Education, school leaders emphasised the urgent need for relevant, updated policies
PANEL RESPONSE: GROWTH POLICY - Reflecting on the Irish Growth Model
Full text linkAlong with the other panellists, I really appreciate being invited to participate in this celebration of Patrick’s contribution to policymaking in Ireland. And I want to thank Philip, Alan and Augustin for their initiative that has created such an enjoyable and informative conference. Unlike other panellists, who were Patrick’s former work colleagues over his career in the ESRI, CBI and TCD, we did not overlap at any point in these three institutions. The only institution where we were daily colleagues was as undergraduates at UCD. However, we have maintained contact ever since and worked alongside each other in different capacities on boards and committees. My earliest recollections of Patrick as a fellow student in UCD were his endless curiosity and intense good humour, attributes mentioned by many others today. By contrast with many others, Patrick has worked in an unusually large variety of organisations, both in Ireland and internationally, over the past 50 years. It is a real tribute to him that he maintained contact with so many of the people he has engaged with along the way. What made Patrick the perfect choice to take on the role of CBI Governor at such a very challenging time, was this exceptional variety of experiences, both in Ireland and in international institutions
Fiscal Policy, Financial Sector Policy and Economic Growth Conference in Honour of Patrick Honohan: Opening Remarks
Full text linkLet me welcome everyone and let me thank the ESRI and TCD for organisingthe event and the RIA for hosting the event. This conference is organised to mark the 75th birthday of Patrick Honohan. Rather than look backwards, the intention is to spend the day looking to the future, with a focus on the main economic policy challenges facing Ireland: fiscal policy, financial-sector policy and growth policies. This design reflects the domestic component of Patrick’s career, which has been spent on applied economics questions since the early 1970s; at the Central Bank, ESRI and TCD, while also maintaining many connections with UCD. In addition, Patrick served as adviser to Garret FitzGerald during the 1980s and, of course, served as Governor of the Central Bank over 2009-2015
The Role of Artificial Intelligence (AI) in Medicine
Full text linkThe article discusses the impact and potential of artificial intelligence (AI) in medicine, focusing on ChatGPT and similar AI tools in diagnostics and clinical practice. This theme is explored in an interview with Dr Bhambra, a Canadian general practitioner (GP) who has a research interest in AI technology. The ability for AI to streamline administrative tasks and diagnostics is highlighted, thus, improving patient care and physician efficiency. Implementation challenges include system resistance, regulatory obstacles, and the need for human oversight to ensure ethical and safe use. AI is unlikely to replace doctors but will likely enhance healthcare delivery
Editor\u27s Foreword
No full textThe latest edition of the Trinity Student Medical Journal explores the transformative role of artificial intelligence in modern medicine, showcasing its growing impact across clinical care, education, and global health. This volume features a wide range of articles, from AI-assisted neonatal care in low-resource settings to the integration of AI into general practice, highlighting both its potential and the ethical challenges it raises. Alongside this focus, the issue includes diverse contributions spanning stroke treatments, COVID-19 sequelae, appendicitis management, and the evolving fentanyl crisis. Thoughtful pieces on medical ethics and emerging diagnostics round out this dynamic, forward-looking edition. In keeping with the theme of this edition, let us remember the core principle of the Hippocratic Oath: primum non nocere. This guiding tenet serves as a reminder to embrace the integration of artificial intelligence in healthcare, while always keeping our primary duty—to do no harm—at the forefront of innovation
Firm Credit Conditions and Flood Risk: Evidence from Ireland
Full text linkIn this paper, we examine the impact of the risk of flooding on the credit conditions of nonfinancial corporations in Ireland. Using detailed maps of the likelihood of flood events and geolocated loan data from the AnaCredit dataset, we compare the interest rates and collateral requirements of borrowers with similar characteristics but different levels of flood risk. We find that loans to borrowers in flood risk areas (around 7 per cent of our sample) face an interest rate premium (of roughly 7 to 13 basis points) and are more likely to provide a collateral (between 3 and 7 percentage points). Furthermore, our estimates indicate that the increased flood risk caused by climate change is partially factored in. Although the results suggest that lenders price this important source of climate risk, they also highlight an additional difficulty in obtaining credit for borrowers located in areas susceptible to floods
Sequential Decisions and Compensatory Tendencies: Evidence from Camogie
Full text linkResearch on the decision-making of officials in Gaelic Games is sparse and limited to the male game. This paper goes a small way to addressing this gap by examining referee decisions to award frees in the game of camogie, the female version of the game of hurling. It is hypothesised that these decisions are biased toward the team behind on the scoreboard and behind on the cumulative difference in frees awarded. Using data from 136 camogie games across eight seasons, and a series of probit estimations, we find evidence of the presence of such compensatory tendencies. We also find that home bias is not an underlying explanation for the presence of these compensatory tendencies. These findings are consistent with previous research on hurling. This paper advances the analysis by conducting a similar investigation on sideline awards by sideline officials as a benchmark for comparison. These results show no statistical relationship between the award of sidelines and the scoreboard. This comparison strengthens that case that the discretionary nature of the decision to award frees by the referee is the channel through which the compensatory tendencies operate. These decisions are rationalised on the basis that referees in camogie prioritise game-management over accuracy
PANEL RESPONSE: FISCAL POLICY - What to do about the Surplus?
Full text linkIt is a privilege to be part of the panel honouring Patrick Honohan’s contributions to Irish fiscal policy. Through his work as an academic, policy advisor and policymaker, Patrick has undoubtedly been one of the most practically influential economists – indeed perhaps the most influential – in the history of Irish economics. The word that most comes to mind in thinking of these contributions is wisdom. Ireland has been fortunate that this wise economist played such a central role during not one but two fiscal crises, first as advisor to the Taoiseach during the crisis of the 1980s and then as Governor of the Central Bank during the more recent sovereign debt crisis. Hopefully as a complement to the more micro-focused analyses of the other papers on this panel, not least Bara Rowntree’s excellent lead paper, I will take a macro perspective on fiscal policy, and in particular address the very live question about the appropriateness of current fiscal policy. Although the stakes are not as high as they were in the crisis management situations Patrick faced, fiscal policymaking today faces the difficult challenge of balancing counter cyclical, sustainability and risk management concerns at a time where there is also strong pressure to use the surplus to meet real societal needs. Hopefully that balancing can be done in a way that ensures that future advisors and policymakers do not have confront new crises in the years ahead