Researchers at UCD


Karl Whelan


School of Economics

Tel: 01-7168239


Karl Whelan has been Professor of Economics at University College Dublin since 2007. Previously, he worked for the Central Bank of Ireland and the Federal Reserve Board in Washington DC. Prof. Whelan has published extensively in the area of applied macroeconomics and is a member of the Royal Irish Academy. He appears regularly in the Irish media discussing issues relating to economic policy and blogs about macroeconomic and financial issues. Professor Whelan acts as an advisor to the European Parliament's Economic and Monetary Affairs Committee.




Book Chapters

Karl Whelan; (2011) 'Ireland's Sovereign Debt Crisis' In: Franklin Allen, Elena Carletti, Giancarlo Corsetti (eds). Life in the Eurozone: With or Without Sovereign Default?. Philadelphia, PA, USA: FIC Press, Wharton Financial Institutions Center. , pp.41-58 Available Online [Details]

Peer Reviewed Journals

Robert Gillanders and Karl Whelan (2014) 'Open For Business? Institutions, Business Environment and Economic Development'. Kyklos, 67 (4):535-558. Available Online [DOI] [Details]
Karl Whelan (2014) 'Ireland's Economic Crisis: The Good, the Bad and the Ugly'. Journal of Macroeconomics, 39 (Part B):424-440. [DOI] [Details]
Whelan, K. (2014) 'TARGET2 and central bank balance sheets'. Economic Policy, 29 (77):79-137. [DOI] [Details]
Lawless, M. and Whelan, K. (2014) 'Where do firms export, how much and why?'. World Economy, 37 (8):1027-1050. [DOI] [Details]
Whelan, K. (2013) 'Sovereign default and the euro'. Oxford Review of Economic Policy, 29 (3):478-501. Available Online [DOI] [Details]
Karl Whelan (2012) 'ELA, Promissory Notes and All That: The Fiscal Costs of Anglo Irish Bank'. Economic and Social Review, 43 (4):653-673. Available Online [Details]
D'Agostino, A,Mcquinn, K,Whelan, K (2012) 'Are Some Forecasters Really Better Than Others?'. Journal of Money, Credit and Banking, 44 :715-732. [DOI] [Details]
Martina Lawless and Karl Whelan; (2011) 'Understanding the Dynamics of Labor Shares and Inflation'. Journal of Macroeconomics, 33 (2):121-136. Available Online [Details]
Whelan, K; (2010) 'Policy Lessons from Ireland's Latest Depression'. Economic and Social Review, 41 :225-254. [Details]
Whelan, Karl T., ; (2009) 'Technology shocks and hours worked: Checking for robust conclusions'. Journal of Macroeconomics, 31 (2):231-239. [Details]
D'Agostino, A., Whelan, K., ; (2008) 'Federal Reserve information during the Great Moderation'. Journal of the European Economic Association, 6 (2-3):609-620. [Details]
Whelan, Karl; (2008) 'Consumption and expected asset returns without assumptions about unobservables'. Journal of Monetary Economics, 55 (7):1209-1221. [Details]
Kieran McQuinn & Karl Whelan; (2008) 'Prospects for Growth in the Euro Area'. CESifo Economic Studies, Oxford University Press, 54 (4):642-680. [Details]
Whelan, K., (with Kieran McQuinn); (2007) 'Conditional Convergence and the Dynamics of the Capital-Output Ratio'. Journal of Economic Growth, 12 . [Details]
Whelan, K.; (2007) 'Staggered Contracts and Inflation Persistence: Some General Results'. International Economic Review, 48 :75-109. [Details]
Whelan, K., (with Jeremy Rudd), ; (2007) 'Inflation Dynamics: A Critical Review of Recent Research'. Journal of Money, Credit and Banking, 39 :155-170. [Details]
Whelan, K., (with Kieran McQuinn),; (2007) 'Solow (1956) as a Model of Cross-Country Growth Dynamics'. Oxford Review of Economic Policy, 23 . [Details]
Whelan, K., (with Jeremy Rudd); (2006) 'Can Rational Expectations Sticky-Price Models Explain Inflation Dynamics?'. American Economic Review, 96 :303-320. [Details]
Whelan, K., (with Jeremy Rudd), ; (2006) 'Empirical Proxies for the Consumption-Wealth Ratio'. Review of Economic Dynamics, 9 :34-51. [Details]
Whelan, K., with Michael Palumbo and Jeremy Rudd), ; (2006) 'On the Relationships Between Real Consumption, Income, and Wealth'. Journal of Business and Economics Statistics, 26 :1-11. [Details]
Whelan, K., (with Jeremy Rudd), ; (2005) 'Does Labor's Share Drive Inflation?'. Journal of Money, Credit and Banking, 37 :297-312. [Details]
Whelan, K, (with Gerard O'Reilly), ; (2005) 'Has Euro-Area Inflation Persistence Changed Over Time?'. Review of Economics and Statistics, 87 :709-720. [Details]
Whelan, K., (with Jeremy Rudd); (2005) 'New Tests of the New-Keynesian Phillips Curve'. Journal of Monetary Economics, 52 :1167-1181. [Details]
Whelan, K.,; (2003) 'A Two-Sector Approach to Modelling U.S. NIPA Data'. Journal of Money, Credit and Banking, 35 :627-656. [Details]
Whelan, K. (with Stacey Tevlin); (2003) 'Explaining the Investment Boom of the 1990s'. Journal of Money, Credit and Banking, 35 :1-22. [Details]
Whelan, K. ; (2002) 'Computers, Obsolescence, and Productivity'. Review of Economics and Statistics, 84 :445-461. [Details]
Whelan, K.; (2002) 'A Guide to U.S. Chain-Aggregated NIPA Data'. Review of Income and Wealth, 48 :217-233. [Details]
Whelan, K.; (2002) 'Some New Economy Lessons for Macroeconomists'. European Economic Review, 68 :21-36. [Details]
Karl Whelan; (1999) 'Economic Geography and the Long-Run Effects of the Great Irish Famine'. Economic and Social Review, 30 (1):1-20. Available Online [Details]
John Bradley and Karl Whelan; (1997) 'The Irish Expansionary Fiscal Contraction: A Tale from One Small European Economy'. Economic Modelling, 14 (2):175-201. Available Online [Details]
John Bradley, Karl Whelan and Jonathan Wright; (1995) 'HERMIN-Ireland'. Economic Modelling, 12 (3):249-274. Available Online [Details]
Karl Whelan; (1991) 'Ricardian Equivalence and the Irish Consumption Function: The Evidence Re-examined'. Economic and Social Review, 22 :229-238. [Details]

Research Papers

Whelan, K, (with Filippo Altissimo and others).; (2005) Wealth and Asset Price Effects on Economic Activity. Research Papers [Details]


Research Interests

Central Banking, Inflation, Consumption, Productivity and Growth, Finance, Time Series Econometrics, Irish Economy.  Go to to find my research.