People

Prof Alan Ahearne

B.B.S., M.Sc., M.Econ.Sc.,Ph.D

Biography

Alan Ahearne is Professor of Economics at the University of Galway. He has served as Economic Adviser to Taoiseach/Tanaiste Micheál Martin since July 2020.

He served as a non-executive director of the Central Bank of Ireland from 2011 to 2020, and chaired the Bank's Risk Committee and Budget & Remuneration Committee. He served as Chair of the Joint Department of Finance/ESRI Research Programme on the Macroeconomy, Taxation & Banking, and was a member of the External Advisory Group to Ireland's Parliamentary Budget Office. He has served as adviser to the IMF, Consultant to the U.K. Department for International Development, and as a Research Fellow at Bruegel in Brussels. He holds an honorary appointment at the Darden Graduate School of Business Administration at the University of Virginia.

Alan served as Special Adviser to Ireland's former Minister for Finance Brian Lenihan from 2009 to 2011. In this role, he advised the Minister on economic, budgetary and financial policy in responding to the economic and financial crisis. He served during 2018/19 as a member of the Independent Review Group set up by the Department of Health to examine the removal of private practice from public acute hospitals.

Alan obtained his PhD from Carnegie Mellon University (in Pittsburgh) in 1998 and subsequently joined the Federal Reserve Board in Washington DC, where he worked for seven years as a Senior Economist. At the Fed, he advised Alan Greenspan, Ben Bernanke and other Fed Governors on developments in the global economy. He was the principal economist at the Fed covering the Japanese and Chinese economies.

Research Interests

Dr. Ahearne's areas of expertise are macroeconomics and international finance. His research includes studies on property markets in Ireland and other industrial countries; global current account imbalances and exchange rates; and the economic performance of the euro area. In addition to being published in top academic journals, his research has featured in The Economist, Financial Times, Wall Street Journal, New York Times, Irish Times, and Sunday Business Post.

Research Projects

Project	Start Date	End Date
MODELLING IRELAND¿S MARITIME TRANSPORT INDUSTRY (MIMTI)	01-OCT-20	30-SEP-24
ASSESSING THE CONDITIONS FOR SUCCESSFUL POLICY-MAKING: A PILOT STUDY	01-OCT-17	30-SEP-19
EI H2020 PROPOSAL PREP - SPATIAL ADJUSTMENT TO CLIMATE IMPACTS AND ECONOMIC DEVELOPMENT	30-MAR-17	23-MAR-18

Peer Reviewed Journals

	Year	Publication
	(2023)	'The impact of Fit for 55 on Ireland's maritime transport sector and the macroeconomy' Cassidy, D., Ahearne, A. (2023) 'The impact of Fit for 55 on Ireland's maritime transport sector and the macroeconomy'. Maritime Economics & Logistics, [DOI] [Details]
	(2023)	'The impact of Fit for 55 on Ireland¿s maritime transport sector and the macroeconomy' Alan Ahearne and Daniel Cassidy (2023) 'The impact of Fit for 55 on Ireland¿s maritime transport sector and the macroeconomy'. Maritime Economics & Logistics, [DOI] [Details]
	(2008)	'The EU and the Governance of Globalisation' Ahearne, A., Andre Sapir, Jean Pisani-Ferry and Nicolas Veron (2008) 'The EU and the Governance of Globalisation'. International Journal of Public Policy, [Details]
	(2007)	'Global Imbalances: The Risks for the World Economy' Ahearne, A. (2007) 'Global Imbalances: The Risks for the World Economy'. Field Day Review, 3 [Details]
	(2006)	'Ireland's Great Depression' Ahearne, A. (with Finn Kydland and Mark Wynne) (2006) 'Ireland's Great Depression'. Economic And Social Review, 37 (2) [Details]
	(2005)	'Zombies Firms and Economic Stagnation in Japan' Ahearne,A. (with Naoki Shinada) (2005) 'Zombies Firms and Economic Stagnation in Japan'. International Economics and Economic Policy, 2 (4):363-381 [Details]
	(2004)	'Information Costs and Home Bias: An Analysis of US Holdings of Foreign Equities' Ahearne, A. (with William Griever and Frank Warnock) (2004) 'Information Costs and Home Bias: An Analysis of US Holdings of Foreign Equities'. Journal of International Economics, 62 :313-336 [Details]
	(2003)	'China and Emerging Asia: Comrades and Competitors' Ahearne, A. (with John Fernald, Prakash Loungani and John Schindler) (2003) 'China and Emerging Asia: Comrades and Competitors'. Seoul Journal of Economics, :183-213 [Details]

Books

	Year	Publication
	(2008)	Coming of Age: Report on the Euro Area. Ahearne, A. (2008) Coming of Age: Report on the Euro Area. Brussels: Bruegel. [Details]

Book Chapters

	Year	Publication
	(2015)	'ECONOMIC SOVEREIGNTY IN IRELAND: A THING OF THE PAST?' Ahearne, A, (2015) 'ECONOMIC SOVEREIGNTY IN IRELAND: A THING OF THE PAST?' In: Towards 2016: 1916 and Irish Literature, Culture & Society (Irish Studies in Europe, Volume 6). :219-228 Trier, Germany: Wissenschaftlicher Verlag Trier. [Details]
	(2016)	'Making the Best of It: Lessons from Ireland's Experience in an EU/IMF Programme' Alan Ahearne (2016) 'Making the Best of It: Lessons from Ireland's Experience in an EU/IMF Programme' In: The Cyprus Bail-In: Policy Lessons from the Cyprus Economic Crisis. London: World Scientific. [Details]
	(2014)	'Banking Union: An Assessment' Alan Ahearne (2014) 'Banking Union: An Assessment' In: Banking Union: Progress and Prospects. Dublin: IIEA. [Details]
	(2012)	'Political-Economic Context in Ireland' Alan Ahearne (2012) 'Political-Economic Context in Ireland' In: Resolving the European Debt Crisis. Washington DC: PIIE. [Details]
	(2008)	'Current Account Imbalances in the Euro Area' Ahearne, A. (with Jürgen von Hagan and Birgit Schmitz) (2008) 'Current Account Imbalances in the Euro Area' In: Challenges of Globalisation: Imbalances and Growth. Washington DC: PIIE. [Details]
	(2007)	'Europen's External Monetary and Financial Relations since the Euro: A Review and a Proposal' Ahearne, A. (with Barry Eichengreen) (2007) 'Europen's External Monetary and Financial Relations since the Euro: A Review and a Proposal' In: Fragmented Power: Europe and the Global Economy (edited by André Sapir). [Details]
	(2007)	'Euroopean Perspectives on Global Imbalances' Ahearne, A. (with Jürgen von Hagen) (2007) 'Euroopean Perspectives on Global Imbalances' In: European and Asian Perspectives on Global Imbalances (edited by A. Ahearne). [Details]

Conference Publications

	Year	Publication
	(2015)	*TOWARDS 2016: 1916 AND IRISH LITERATURE, CULTURE & SOCIETY* Ahearne, A (2015) ECONOMIC SOVEREIGNTY IN IRELAND: A THING OF THE PAST? TOWARDS 2016: 1916 AND IRISH LITERATURE, CULTURE & SOCIETY , pp.219-228 [Details]
	(2012)	*Transatlantic Economic Challenges* Alan Ahearne and Guntram Wolff (2012) The Debt Challenge in Europe Transatlantic Economic Challenges [Details]

Published Reports

	Year	Publication
	(2020)	Challenges and Opportunities for Ireland¿s Major Ocean Economy Industries. Ahearne, A. and Hynes, S. (2020) Challenges and Opportunities for Ireland¿s Major Ocean Economy Industries. Whitaker Institute, Galway, Ireland. [DOI] [Details]
	(2020)	Remote Working During COVID-19: Ireland's National Survey. Initial Report. May 2020. McCarthy, Alma, Ahearne, Alan, Bohle-Carbonell, Katerina, Ó Síocháin, Tomás, & Frost, Deirdre (2020) Remote Working During COVID-19: Ireland's National Survey. Initial Report. May 2020. NUI Galway, Galway, Ireland. [ARAN Link] [Details]
	(2019)	Evaluation of the International Growth Centre's Research Commissioning, GSDI Report. Alan Ahearne (2019) Evaluation of the International Growth Centre's Research Commissioning, GSDI Report. DFID, London. [Details]
	(2019)	Report of the Independent Review Group established to examine private activity in public hospitals. Independent Review Group (2019) Report of the Independent Review Group established to examine private activity in public hospitals. Department of Health, Dublin. [Details]
	(2014)	Structural Policies in IMF Surveillance. Alan Ahearne, Paul Acquah and Paul Collier (2014) Structural Policies in IMF Surveillance. International Monetary Fund, Washington DC. [Details]
	(2014)	The Next Steps - Restoring Financial Sustainability to the Irish Hotel Industry. Alan Ahearne (2014) The Next Steps - Restoring Financial Sustainability to the Irish Hotel Industry. Irish Hotels’ Federation, Dublin. [Details]
	(2012)	Time to Invest: Proposals to Restore Financial Sustainability to the Irish Hotel Industry. Alan Ahearne (2012) Time to Invest: Proposals to Restore Financial Sustainability to the Irish Hotel Industry. Irish Hotels’ Federation, Dublin. [Details]

Edited Books

	Year	Publication
	(2007)	European and Asian Perspectives on Global Imbalances. Alan Ahearne (Ed.). (2007) European and Asian Perspectives on Global Imbalances European and Asian Perspectives on Global Imbalances. Brussels: Bruegel. [Details]

Other Journals

	Year	Publication
	(2001)	'Countering contagion: Does China's experience offer a blueprint' Ahearne (with John Fernald and Prakash Loungani) (2001) 'Countering contagion: Does China's experience offer a blueprint' Economic Perspectives, 25 :38-52. [Details]

Conference Contributions

	Year	Publication
		International Association of Maritime Economists, Cassidy, D., Ahearne, A. The impact of Fit for 55 on Ireland's maritime transport sector and the macroeconomy. [Conference Paper], International Association of Maritime Economists, University of Southern California (USC), September, 2023 . [Details]
		Maritime green growth - Evaluating opportunities & bottlenecks, Cassidy, D., Ahearne, A. The impact of Fit for 55 on Ireland's maritime transport sector and the macroeconomy. [Conference Paper], Maritime green growth - Evaluating opportunities & bottlenecks, University of Turku, Finland, February, 2024 . [Details]

Article

	Year	Publication
	(2019)	Perspective on the Irish Economy, Lincoln Salary and Employment Insights Survey. Alan Ahearne (2019) Perspective on the Irish Economy, Lincoln Salary and Employment Insights Survey. Article [Details]
	(2018)	Perspective on the Irish Economy and Brexit, Lincoln Salary and Employment Insights Survey. Alan Ahearne (2018) Perspective on the Irish Economy and Brexit, Lincoln Salary and Employment Insights Survey. Article [Details]

Conference Paper

	Year	Publication
	(2006)	Condoms and House Prices: the Irish Experience. IEA Annual Conference. Ahearne,A. (with Robert Martin) (2006) Condoms and House Prices: the Irish Experience. IEA Annual Conference. Conference Paper [Details]

Other Item

	Year	Publication
	(2006)	Glying Geese or Sitting Ducks: China's Impact on the Trading Fortunes of other Asian Economies. International Finance Discussion Paper. Ahearne, A. (with John Fernald, Prakash Loungani and John Schindler) (2006) Glying Geese or Sitting Ducks: China's Impact on the Trading Fortunes of other Asian Economies. International Finance Discussion Paper. Other Item [Details]
	(2005)	Monetary Policy and House Prices: A Cross-Country Study. International Finance Discussion Papers 841. Washington: Board of Governors of the Federal Reserve System. Ahearne, A. (with John Ammer, Brian Doyle, Linda Kole and Robert Martin) (2005) Monetary Policy and House Prices: A Cross-Country Study. International Finance Discussion Papers 841. Washington: Board of Governors of the Federal Reserve System. Other Item [Details]

Policy Contribution

	Year	Publication
	(2020)	Challenges and Opportunities for Ireland's Major Ocean Economy Industries. Invited Presentation to Inter-Departmental Marine Coordination Group, Department of the Taoiseach, Dublin, June 10th. Ahearne, A. and Hynes. S. (2020) Challenges and Opportunities for Ireland's Major Ocean Economy Industries. Invited Presentation to Inter-Departmental Marine Coordination Group, Department of the Taoiseach, Dublin, June 10th. Policy Contribution [Details]
	(2008)	A Tail of Two Countries. Ahearne, A. (with Juan Delgado & Jakob von Weizsäcker) (2008) A Tail of Two Countries. Policy Contribution [Details]
	(2007)	Global Imbalances: Time for Action. Ahearne, A. (with William Cline, Kyung Tae Lee, Yung Chul Park, Jean Pisani-Ferry and John Williamson (2007) Global Imbalances: Time for Action. Policy Contribution [Details]
	(2006)	The Euro Only for the Agile. Ahearne, A. (with Jean Pisani-Ferry) (2006) The Euro Only for the Agile. Policy Contribution [Details]
	(2005)	Global Current Account Imbalances: How to Manage the Risk for Europe. Ahearne, A. (with Juergen von Hagen) (2005) Global Current Account Imbalances: How to Manage the Risk for Europe. Policy Contribution [Details]

Research Paper

	Year	Publication
	(2005)	Preventing Deflation: Lessons from Japan's Experience in the 1990s. International Finance Discussion Papers 729. Washington: Board of Governors of the Federal Reserve System. Ahearne, A. (with Steve Kamin,Joseph Gagnon & others) (2005) Preventing Deflation: Lessons from Japan's Experience in the 1990s. International Finance Discussion Papers 729. Washington: Board of Governors of the Federal Reserve System. Research Paper [Details]

Working Paper

	Year	Publication
	(2023)	The Impact of Fit for 55 on Ireland's Maritime Transport Sector and the Macroeconomy. Alan Ahearne and Daniel Cassidy (2023) The Impact of Fit for 55 on Ireland's Maritime Transport Sector and the Macroeconomy. Galway: Socio-Economic Marine Research Unit (SEMRU) Working Paper [Details]

Honours and Awards

	Year	Title	Awarding Body
	1997	Excellence in Teaching Award	Carnegie Mellon University
	1993	William Larimer Mellon Doctoral Fellowship	Carnegie Mellon University

Education

Year	Institution	Qualification	Subject
1998	Carnegie Mellon University	PhD	Economic
1991	University College Dublin	MASTERS OF SCIENCE	Economics
1989	University of Limerick	BACHELOR OF COMMERCE	Business Studies
1995	Carnegie Mellon University	MASTERS OF SCIENCE	Economics

Languages

	Language
	Spanish

Community Engagement

	Title	Type	From / To
	Policy Development	Chairman, Joint ESRI/Finance Macroeconomy & Taxation Research Programme	01-FEB-15 /
	Board Membership	Central Bank of Ireland	08-MAR-11 /

Teaching Interests

Masters in International Finance: International Finance, International Macroeconomics & International Monetary Economics.

Executive MBA: Irish Economic Policy.

Modules Taught

Term/Year	Module Title	Module Code
Sem 1, 2016/17	Microeconomics	EC142
Sem 2, 2017/2018	Irish Economy in a Global Context	EC5112
Sem 2, 2022/2023	Macroeconomics and Public Policy	EC3102
Sem 2, 2019/2020	Irish Economy in a Global Context	EC5112
Sem 2, 2019/2020	International Monetary Economics	EC576/420
Sem 1, 2016/17	Ireland in the Global Economy	EC423