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National Accounts for a Global Economy: The Case of Ireland

In: Challenges of Globalization in the Measurement of National Accounts

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  • John FitzGerald
Abstract
Globalisation is affecting the way economic activity is reflected in the national accounts. Intellectual property, which is now part of the capital stock, interacts with the choice of global firms as to their legal structure, producing different national accounting outcomes for individual countries. This is but one manifestation of the challenges that a global economy presents for national accounting. Using the example of Ireland, consideration is given to the data needed to meet the needs of users of national accounts. In particular, more information is required to separately identify all the activity of multinational enterprises and domestically owned firms. This paper suggests a set of satellite accounts for Ireland that would show how changes in the economy affect the economic welfare of Irish residents.
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Suggested Citation

  • John FitzGerald, 2020. "National Accounts for a Global Economy: The Case of Ireland," NBER Chapters, in: Challenges of Globalization in the Measurement of National Accounts, pages 65-101, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:14144
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    References listed on IDEAS

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    1. FitzGerald, John, 2015. "Problems Interpreting the National Accounts in a Globalised Economy — Ireland," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI).
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    8. Frank Barry, 2019. "Aggressive Tax Planning Practices and Inward-FDI Implications for Ireland of the New US Corporate Tax Regime," The Economic and Social Review, Economic and Social Studies, vol. 50(2), pages 325-340.
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    Cited by:

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    3. FitzGerald, John, 2020. "Understanding recent trends in the Irish economy," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI).
    4. Galstyan, Vahagn & Herzberg, Valerie, 2018. "External Balance Sheet Risks in Ireland," Financial Stability Notes 09-18, Central Bank of Ireland.
    5. Malin Andersson & Nina Blatnik & Stephen Byrne & Lorenz Emter & Valerie Jarvis & Belén Gonzalez Pardo & Martin Schmitz & Nico Zorell & Christoph Zwick, 2024. "Intangible assets of multinational enterprises in Ireland and their impact on euro area activity," IFC Bulletins chapters, in: Bank for International Settlements (ed.), External statistics in a fragmented and uncertain world, volume 62, Bank for International Settlements.
    6. Ilias Kostarakos & Kieran McQuinn & Petros Varthalitis, 2024. "Is Ireland the most intangible intensive economy in Europe? A growth accounting perspective," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 70(2), pages 370-394, June.
    7. David Cronin & Kieran McQuinn, 2023. "Household Consumption and the Housing Net Worth Channel in Ireland," The Economic and Social Review, Economic and Social Studies, vol. 54(2), pages 125-147.
    8. Economides, Philip & Nikolaishvili, Giorgi, 2023. "Measuring economic activity in the presence of superstar MNEs," Economics Letters, Elsevier, vol. 226(C).
    9. Fatima-Zahra Jaouimaa & Daniel Dempsey & Suzanne Van Osch & Stephen Kinsella & Kevin Burke & Jason Wyse & James Sweeney, 2021. "An age-structured SEIR model for COVID-19 incidence in Dublin, Ireland with framework for evaluating health intervention cost," PLOS ONE, Public Library of Science, vol. 16(12), pages 1-25, December.
    10. Wren, Maev-Ann & FitzPatrick, Aoife, 2020. "How does Irish healthcare expenditure compare internationally?," Research Series, Economic and Social Research Institute (ESRI), number RS114.
    11. Xiao, De & Yu, Fan & Guo, Chenhao, 2023. "The impact of China's pilot carbon ETS on the labor income share: Based on an empirical method of combining PSM with staggered DID," Energy Economics, Elsevier, vol. 124(C).
    12. Galstyan, Vahagn & Herzberg, Valerie, 2018. "External Balance Sheet Risks in Ireland," Financial Stability Notes 9/FS/18, Central Bank of Ireland.
    13. Egan, Paul, 2021. "Nowcasting modified domestic demand using monthly indicators," Papers WP716, Economic and Social Research Institute (ESRI).
    14. Varthalitis, Petros, 2019. "FIR-GEM: A SOE-DSGE Model for fiscal policy analysis in Ireland," Papers WP620, Economic and Social Research Institute (ESRI).
    15. David Cronin & Kieran McQuinn, 2021. "Fiscal policy and growth forecasts in the EU: are official forecasters still misestimating fiscal multipliers?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(3), pages 453-462, August.
    16. Barra Roantree & Michelle Barrett, 2024. "Income inequality in Ireland, 1987–2019," Fiscal Studies, John Wiley & Sons, vol. 45(2), pages 143-153, June.
    17. Galstyan, Vahagn, 2019. "Estimates of Foreign Assets and Liabilities for Ireland," Research Technical Papers 3/RT/19, Central Bank of Ireland.
    18. McGinnity, Frances & Russell, Helen & Alamir, Anousheh, 2024. "17 years after the start of the global financial crisis (GFC), where are we now with credit and house prices in the Irish residential market?," Papers WP779, Economic and Social Research Institute (ESRI).
    19. Seamus McGuinness & Adele Bergin, 2020. "The political economy of a Northern Ireland border poll," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 44(4), pages 781-812.
    20. Marie-Baïanne Khder & Jérémi Montornès & Nicolas Ragache, 2020. "Irish GDP Growth in 2015: A Puzzle and Propositions for a Solution," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 517-518-5, pages 173-190.
    21. Bergins, Adele & McGuinness, Seamus, 2022. "Modelling productivity levels in Ireland and Northern Ireland," Research Series, Economic and Social Research Institute (ESRI), number RS152.
    22. Keegan, Conor & Brick, Aoife & Bergin, Adele & Wren, Maev-Ann & Whyte, Richard & Henry, Edward, 2020. "Projections of expenditure for public hospitals in Ireland, 2018–2035, based on the Hippocrates Model," Research Series, Economic and Social Research Institute (ESRI), number RS117.

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    More about this item

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

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