The Irish GDP in 2016. After the Disaster Comes a Dilemma

30 Pages Posted: 1 Aug 2019

Date Written: December 12, 2018

Abstract

The paper examines the disruption of statistics with the publication of the 2015 Ireland GDP at +26.3 per cent year on year. The figure was greeted by international disbelief. Ireland’s statistical authorities reacted with the publication, for the main aggregates, of modified data in parallel with the official one, much less affected by the bias on value added. The bias resulted from the relocation in Ireland of a huge amount of intellectual property capital, of the dimension of the GDP itself.To fix the link between statistical representation and economic fact means to depart from the legal form to let the substance prevail, i.e. depart from the description given by business reports and administrative data.

Keywords: macroeconomic data estimation, impacts of globalisation

JEL Classification: C82, E01, F62

Suggested Citation

Tedeschi, Roberto, The Irish GDP in 2016. After the Disaster Comes a Dilemma (December 12, 2018). Bank of Italy Occasional Paper No. 471, Available at SSRN: https://ssrn.com/abstract=3429861 or http://dx.doi.org/10.2139/ssrn.3429861

Roberto Tedeschi (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

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