The methodology of the Second Programme for Economic Expansion

Abstract

The purpose of the exercise described in this paper was to obtain a profile of the Irish economy in 1970 which reflected the highest growth rate which could be achieved in the light of policy possibilities, the probable development of the external environment and resource availability. Two methods were used: first, the iterative method and second, a formalised and reasonably comprehensive model of the economy which would give a simultaneous solution for 1970. These two methods are complementary. The first method was elaborated mainly by the Department of Finance, the work on the second method was carried out mainly by the Economic Research Institute.