Oireachtas Joint and Select Committees
Wednesday, 25 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Joe Higgins (Dublin West, Socialist Party) | Oireachtas source
Professor Connor's submission states that "Economists were aware of these types of macroeconomic feedback effects, but in the widespread political enthusiasm for EMU, the potential macroeconomic instability from EMU-induced capital flows was down played by economists". Is he saying that economists deliberately downplayed the destabilising effects and, if so, why did they do so?
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