
Finn Kydland has a simple explanation for the so-called Celtic Tiger. It was a recovery from a deep depression in the 1970s and 1980s in the Irish economy.

HT: “Ireland’s Great Depression,” Finn Kydland, Alan Ahearne and Mark A. Wynne, The Economic and Social Review 37(2), Summer/Autumn 2006, 215-243. (pdf)
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