Dr. Kieran McQuinn:

We are preparing our next quarterly commentary, which will be out at the end of March. We are obviously considering the impact of this crisis in the short to medium term. The duration of the period we typically consider in the commentary is the rest of 2022 and into 2023. We will be considering the impact of the Ukrainian crisis on the Irish economy for that period. In terms of other work, I have no doubt we will be spending much time on this issue into the future. I could compare this crisis to the pandemic. In fairness to my colleagues in the institute, they have displayed a remarkable degree of versatility. We were able to shift our work focus very quickly when the pandemic hit to consider the impacts of the pandemic on a myriad of areas in terms of macroeconomics, behaviour, health and the like. I have no doubt a significant amount of work will be done on the impact of this crisis in the coming period. Certain Departments with which we interact quite a lot will come to us with requests for analysis and more deep-seated and longer–term analysis and medium-term appraisals. I have no doubt that will be the case but we are certainly considering its impact in the short and medium term.