Research for Ireland shows that when government investment is financed in 3/7  BIS central bankers' speeches  a budget-neutral way, particularly when the economy is operating close to full capacity, the benefits of increasing public capital can be achieved without the short-run costs of increased marginal costs for firms and a deterioration in competitiveness.
The housing market Turning to the second part of my speech, we published our comprehensive analysis of developments in the housing market as part of the annual review of our macroprudential framework last November.