Master Thesis in Economics: An examination of fiscal contraction in an open economy with fiscal and monetary restrictions, the case of Ireland

An important theory that should be acknowledged by Irish fiscal decision makers(which the author found in the secondary research and was able to support through their primary research) is that the raising of taxes has a more profoundly negative effect on an economy than cuts made to government expenditure. In the conclusion, the researcher recognises the many adverse socio-political effects re-sulting from austerity- but highlights there are indications to show that austerity is being effective, demonstrated by the sharp decline in the Irish budget deficit and its ability to return to the international bond markets. These findings, however, may be immature as Ireland still finds itself in an EU-IMF bailout situation, with a very high Debt/GDP ratio and a severe unemployment rate. Further research will be required on this matter in the future in order for a conclusive verdict on the effectiveness of the austerity fiscal policies.  To consult more Economic essay sample, please see at: Bộ Luận Văn Thạc Sĩ Kinh tế