New research reveals that positive economic shocks in the Republic of Ireland, such as increased consumption, can have a positive ripple effect on Northern Ireland's economy, boosting employment, consumption, imports, and exports. The study also found that Northern Ireland is less sensitive to interest rate hikes compared to the wider UK.
A positive boost to exports in the Republic was also found to result in a positive boost to exports and imports in the North. Photograph: Liam McBurney/PABoth think tanks, with the help of employers’ group Ibec, have developed a macroeconomic tool to assess the impact of shocks — negative and positive — on the North’s economy.
A positive boost to exports in the Republic was also found to result in a positive boost to exports and imports in the North.Another scenario examined a monetary policy shock, specifically an increase in the Bank of England interest rate. The simulation results suggested that the Northern Ireland economy is less sensitive to interest rate hikes than the wider UK.
Economics ECONOMICS NORTHERN IRELAND IRELAND TRADE POLICY
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