Our Research Agenda
Our research agenda reflects our full mandate and aligns with the key themes of our Strategic Plan.
Research help us to be future-focused by anticipating and responding to changes in the economy and financial system. To do so, we are increasingly moving beyond conventional analytical techniques and datasets to help answer new questions or approach existing research topics in a new way. This transformational approach can help us to improve the effectiveness of our work and reaffirm ourselves as an intelligence-led organisation.
Our research agenda provides the focus of our research and aims to strike a balance between building our expertise on existing issues of interest, and maintaining flexibility to react to new issues that emerge. We also cover areas where we have ongoing research projects and where will we seek to expand our analysis.
Research Themes
Our research agenda is structured around four headline themes:
1. The small open economy
The small and open nature of the Irish economy yields unique areas of research to further our understanding of the sensitivity of the domestic economy and financial system to external developments. This research informs our economic commentary and supports policy decisions to enhance the resilience of the Irish economy.
Find out more about our small open economy theme.
- How have the drivers of Irish inflation evolved? How persistent are these forces?
- How resilient are the public finances and what is the trajectory of public debt?
- How do external developments, including multiple interconnected shocks (for example Brexit, the COVID-19 pandemic and war in Ukraine) and evolving global policies (for example, corporate tax reforms and changes in global supply chains) spill over to the Irish economy?
- What policies can enhance the resilience of the domestic economy and financial system to small open economy risks?
2. The evolving financial system
Ireland has a large, diverse and internationally-connected financial sector. The financial system has been evolving at a rapid pace, with a growing role for non-bank financial intermediaries. Our research analyses the evolution of links between the real economy and the financial system, and the impact on consumers. It also identifies key risks and vulnerabilities, in particular tail risks that have the potential to undermine financial stability, which underpins our policy decisions.
Find out more about our evolving financial system theme.
- What are the “tail risks” facing the Irish financial system?
- What are the costs and benefits of non-bank financial intermediaries operating in Ireland?
- What are best options for dealing with distressed debt arising from the COVID-19 pandemic?
- What are the macro-financial implications of developments in the residential and commercial real estate markets?
- How can engagement and regulations on product design improve the outcomes for consumers (for example, dual pricing in the insurance industry)?
- What are consumer attitudes towards pension decumulation. How have these changed?
3. New horizons
The COVID-19 pandemic, climate change, digitalisation, an aging population and inequality are just some of the challenges that require a radical rethink of how our economy and financial system functions. Our research aims to take a more medium-term focus to assess the implications of these changes and consider potential public policy responses.
Find out more about our new horizons theme
- What are the physical- and transition-related risks of achieving net zero carbon emissions?
- Are there any post-pandemic adjustments in the ways we live, work and travel?
- What are consumer and business attitudes towards cash and other payment usage?
- What are the implications of income and wealth inequality for policy design?
- What is the likely effect of recent trade policy developments on globalisation?
4. Central bank frameworks
Central Bank of Ireland contributes to the setting of euro area monetary policy and is responsible for Irish macroprudential policy, financial regulation, supervision and consumer protection. Our research seeks to inform our policy design and assess the effectiveness of our policy frameworks to ensure we fulfil our mandate.
Find out more about our central bank frameworks theme.
- How can we leverage behavioural insights to support the key themes of the Consumer Protection Code Review?
- How can we leverage data science and economic analysis to support evaluation and development of prudential regulation and consumer protection policy?
- How can we measure the impact, including the communications approach, of policy action?
- What are the effects of regulation on competition?
- What are the best institutional frameworks for central bank policymaking?
We endeavour to be at the forefront of thinking across these areas through strong collaboration with external researchers in universities/institutions and our Eurosystem colleagues.
Research Agenda | pdf 396 KB