As per the data on micro and small enterprises (MSEs) in the Annual Report of Ministry of Micro, Small and Medium Enterprises, 2006-07, the sector accounted for around 39 per cent of total industrial production, 34 per cent of the exports in the industrial sector and around 35 per cent of total employment among units engaged in manufacturing and services.
In Ireland, we have seen excessive swings in house prices, and so had different wealth effects on households depending when they purchased. Through data analysis we know how debt affects households’ responses to income and wealth shocks. A lack of resilience spills over to the real economy making for longer, and deeper, recessions.