Morgan Kelly (economist)

From Wikipedia, the free encyclopedia
  (Redirected from Morgan Kelly (Irish economist))
Jump to: navigation, search
This article is about UCD's Professor of Economics. For the Canadian actor, see Morgan Kelly.
Morgan Kelly
Alma mater Trinity College, Dublin,
Yale University
Occupation Academic
Employer University College Dublin (UCD)
Known for Predicting the end of the Irish property bubble

Professor Morgan Kelly, BA, PhD, is Professor of Economics at University College Dublin (UCD). Described by the The Irish Times as the country's official soothsayer,[1] Kelly has notably predicted the bursting of the Irish property bubble.

Background[edit]

Kelly studied at Trinity College, Dublin and Yale University in the United States. He was Assistant Professor at Cornell University, College Lecturer at UCD and is now Professor at UCD. He has refereed numerous international economic journals.[2]

Predictions[edit]

Main article: Irish property bubble

Kelly predicted in 2007 that property prices were going to crash by 60% based on empirical evidence of past property crashes. Kelly has garnered praise from fellow economists for his prediction of the collapse of the property market.[3]

In July 2007, Taoiseach Bertie Ahern implicitly criticised Kelly for his articles predicting a property crash:

Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide because frankly the only thing that motivates me is being able to actively change something.[4]

Ahern subsequently apologised for the reference to suicide in his remark.[5][6]

Kelly takes the view that the Irish state should not have put itself forward as guarantor for the Irish banks in September 2008.[7]

As of May 2011, Kelly suggests that bankruptcy for the state of Ireland is a possibility.[8]

References[edit]

  1. ^ "A handful of winners and a lot of losers populated Ireland's bleak landscape this year". The Irish Times (Irish Times Trust). 
  2. ^ "UCD School of Economics". University College Dublin. 
  3. ^ Ihle, Jon (10 October 2010). "We warned you: critics of government proved right". Sunday Tribune. Retrieved 10 October 2010. 
  4. ^ McDermott, Peter (14 December 2010). "Less dogma, more dialogue needed in economics". The Irish Echo (New York). OCLC 4988765. 
  5. ^ Freefall, RTÉ Television. Broadcast September 2010.
  6. ^ Murphy, Claire (27 August 2010). "Bertie blames banks for all our cash woes". Evening Herald (herald.ie). Retrieved 27 August 2010. )
  7. ^ Kelly, Morgan (10 November 2010). "Op-Ed piece". The Irish Times (Irish Times Trust). Retrieved 10 November 2010. 
  8. ^ Kelly, Morgan (14 May 2011). "Op-Ed piece". The Irish Times (Irish Times Trust). Retrieved 14 May 2011. 

External links[edit]