Wine Dark Seas: Visualising Economic Crises

Here's a paper I've just submitted, the code is here.


Models in economics and finance typically use time series graphs as model outputs. In the light of the recent crisis and policy makers’ sometimes-flawed approaches to the resolution of the crisis, this paper argues simple line graphs do not contain enough information to help policy makers adequately understand the evolution of their economy. We generate new graphical representations using the example of the Irish economic crisis based on a new model of the Irish economy, built from its national accounts. These visualisations are newer, data-dense outputs of a new class of accounting models. In these accounting models the many connections between the real and financial sides of the economy are much more explicit, the impact of austerity on the Irish economy post-2009 are much more transparent, and the resulting recovery is clearly visible in dashboard form to policymakers.