Neasa Hourigan (Dublin Central, Green Party) | Oireachtas source

I thank Dr. McQuinn for clearing that up for me. I want to ask about interest rates. Dr. McQuinn's opening statement referred to the significant cost of the pandemic and the Government's stated plans for expenditure levels. Dr. McQuinn mentioned a paper by Furman and Summers, which I went away and read. Obviously, it is an American paper. I am not an economist, but from what I can gather it seems to be suggesting that structural changes have happened in economies which are unlikely to revert to the way they were. The way we have been using interest rates in recent decades is not the way we will use them in the future. Is that a correct reading of that point?