Bill Mitchell — Ireland national accounts and [tax] inversion

Last week (July 3, 2014), the Irish Central Statistics Office (CSO) released the – Quarterly National Accounts, Quarter 1 2014 -which showed that real GDP grew by 2.7 per cent (Q4 2013 to Q1 2014), while Gross National Product (GNP) grew by 0.5 per cent.

That result tells us two things:
1. There was solid real GDP growth in the first-quarter 2014.
2. Most of the benefits did not flow to the Irish, given that GNP growth was very modest (see below for more explanation).

"Tax inversion" = tax avoidance.

Bill Mitchell – billy blog
Ireland national accounts and inversion
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at the Charles Darwin University, Northern Territory, Australia