Correcting for technical errors in how inflation is measured sounds like a topic only for the pure theorists. This post, however, presents estimates of the cost to Irish taxpayers of the Government’s use of an inadequate measure of changes in the cost of living. If the Government had adjusted CPI downwards each year by 1.1%, as per leading estimates, it could have saved in the order of €13bn this decade.

This post extends a February comparison of private sector job losses in recent US recessions to include the latest data, finding that the last six months have seen no significant recovery in employment numbers. It then compares the current recession to the Great Depression.

With the NAMA draft business plan released earlier this week, this post reviews a key topic that remains unaddressed: the low yields on residential property. It finds that yields are clearly lower – far lower – than the 6% assumed both at the start of the NAMA process and now, in its business plan.