Banking Union: Ireland vs. Nevada, an illustration of the importance of an integrated banking system. CEPS Commentary, 18 October 2012

Despite their surprising similarities – in size and their housing booms – Ireland and the American state of Nevada sharply parted company when it came to who bore responsibility for bailing out their failed banks when the booms turned to bust. This latest Commentary by Daniel Gros vividly illustrates the importance of that difference and thus the shock-absorbing capacity of an integrated banking system and a banking union.

Dating the onset of cereal cultivation in Britain and Ireland: the evidence from charred cereal grains

When does Neolithic life begin in Britain? The author gathered up the current evidence for radiocarbon-dated first use of cereals, distinguishing between dates from charcoal in contexts with cereals, and dates from the charred grains themselves. The charred grains begin to appear around 4000 cal BC and become prominent in settlements between 3800 and 3000 cal BC This correlates well with the appearance of megalithic tombs (3800-3500 cal BC) and argues for a relatively rapid adoption of the Neolithic package during an experimental phase of two centuries, 4000-3800 cal BC. The early cereals reported in the pollen record (from 5000 BC) are attributed to wild species.

An investigation into factors affecting the occupational choices of nominated farm heirs in Ireland

The resilience of family farming is an important feature of the structure of the farming industry in many countries, due largely to the 'smooth' succession of farms from one generation to the next. The stability of this structure is now threatened by the widening gap between the income expected from farming when compared with non-farming occupations in an economy like Ireland, operating at almost full employment. Nominated farm heirs are increasingly unlikely to choose full-time farming as their preferred occupation. To identify the factors that affect this occupational choice, a multinomial logit model is developed and applied to Irish data to examine the farm, economic and personal characteristics that influence a nominated heir's decision to enter farming as opposed to some non-farming occupation. The results show a significant negative relationship between higher education and the choice of full-time farming as an occupation. The interdependence between education and occupational choices is further explored using a bivariate probit model. The main findings are: the occupational choice and the decision to continue with higher education are made jointly; the nominated heirs on more profitable farms are less likely to pursue tertiary education and therefore more likely to enter full-time farming. The model developed is sufficiently general for studying the phenomenon of succession on farms.