This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Ireland were reviewed by the Committee on 18 January 2018. The draft report was then revised in light of the discussions and given final approval as the agreed report of the whole Committee on 12 February 2018.The Secretariat’s draft report was prepared for the Committee by Ben Westmore and Yosuke Jin under the supervision of Pierre Beynet. Statistical research assistance was provided by Paula Adamczyk and editorial assistance by Heloise Wickramanayake. The previous Survey of Ireland was issued in September 2015.

Economic prospects are good but clouded with uncertaintyReviving productivity is the key for future output and labour earnings

Recent macroeconomic developments and short-term prospectsSolving the legacies of the crisis by buttressing the financial system and public financesAddressing medium-term challenges for wellbeing

This Annex reviews actions taken on recommendations from the previous Survey that are not covered in tables within the main body of the Key Policy Insights chapter above. Recommendations that are new in this Survey are listed in the Key Recommendations box and at the end of the thematic chapter.

Comparing estimates of underlying housing demand with actual housing supply is important for understanding developments in housing affordability and identifying potential economic imbalances. For example, past work has suggested that overbuilding in the residential construction sector in the years before 2008 was a significant factor behind the scale of the subsequent recession in Ireland (Whelan, 2013).