Ronan Lyons
Assistant Professor, Economics

Publications and Further Research Outputs

Peer-Reviewed Publications

, The impact of employment on housing prices: Detailed evidence from FDI in Ireland, Regional Science and Urban Economics, 2018 Journal Article, 2018

, Housing Market: Supply, Pricing and Servicing Issues, The Economy of Ireland: Policy-Making in a Global Context, 2017 Journal Article, 2017

, Housing and Austerity: A Two-Way Street, Debating austerity in Ireland: crisis, experience and recovery, 2017 Journal Article, 2017

Salem S. Gharbia, Ronan Lyons, Owen Naughton, Vincent Farrelly, Francesco Pilla, Attitudes to systemic risk: the impact of flood risk on the housing market in Dublin, 18th Mediterranean Electrotechnical Conference MELECON 2016, Cyprus, 18-20 April, IEEE, 2016 Conference Paper, 2016 TARA - Full Text

Sarah Stanley, Ronan C. Lyons, Sean Lyons, The Price Effect of Building Energy Ratings in the Dublin Residential Market, Energy Efficiency, 9, (4), 2016, p875 - 885 Journal Article, 2016 DOI

Sarah Stanley, Ronan C Lyons, Sean Lyons, The price effect of building energy ratings in the Dublin residential market, Energy Efficiency, 2015 Journal Article, 2015 DOI

Ronan C. Lyons, Housing supply in Ireland since 1990: the role of costs and regulation, Journal of the Statistical & Social Inquiry Society of Ireland, 2015, p Journal Article, 2015 URL

Richard S. Grossman & Ronan C. Lyons & Kevin H. O'Rourke & Madalina A. Ursu, A monthly stock exchange index for Ireland, 1864-1930, European Review of Economic History, 18, (3), 2014, p248 - 276 Journal Article, 2014 DOI

Ronan C Lyons, East, west, boom and bust: the spread of house prices and rents in Ireland, 2007-2012, Journal of Property Research, 2014 Journal Article, 2014 DOI URL

Marie Hyland, Ronan C. Lyons & Sean Lyons, The value of domestic building energy efficiency - evidence from Ireland, Energy Economics, 40(C), 2013, p943 - 952 Journal Article, 2013 URL DOI

, Inside a Bubble and Crash " Evidence from the Valuation of Amenities, Property Prices and Real Estate Financing in a Turbulent World, 2013 Journal Article, 2013

Ronan C. Lyons, The real value of house prices: what the cost of accommodation can tell policymakers, Journal of the Statistical and Social Inquiry Society of Ireland, 41, 2012, p71 - 91 Journal Article, 2012 DOI

, Towards Perfect Information: The Case of the Housing Market, Understanding Ireland's Economic Crisis: Prospects for Recovery, 2010 Journal Article, 2010

Non-Peer-Reviewed Publications

The spread of rents in Ireland, over time and space in, editor(s)Lorcan Sirr , Renting in Ireland, Dublin, Institute of Public Administration, 2014, [Ronan C. Lyons] Book Chapter, 2014 URL TARA - Full Text

Ed Burke and Ronan Lyons (editors), Next Generation Ireland, Dublin, Orpen Press, 2011 Book, 2011 URL

Research Expertise


Economic activity and human welfare are spread remarkably unevenly in the world. To understand this, economics needs to recognise the importance of both time and place. On the one hand, the persistent gap between wealthy and poor countries is a consequence of the Industrial Revolution that began around the turn of the 18th Century. On the other hand, the fact that the almost all income and wealth is concentrated geographically on a tiny fraction of the world's land underscores the huge - and perhaps growing - importance of location and clusters. As a result, my research is focused on both economic history and economic geography. There are five areas where my research is currently focused. Firstly, much of my research examines the economics of housing markets. Housing constitutes both the biggest item of expenditure and the most popular investment class and is therefore central to understanding economic cycles, such as the "Great Recession" starting in 2007. The Irish housing bubble of 1995-2007 and the subsequent crash represent a unique opportunity to understand not just the internal mechanics of the housing market, including the central role of consumer expectations, but also how housing relates to the rest of the economy, in particular the financial sector and credit conditions. Clearly, housing demand is important but so too is the supply of housing, which remains poorly understood internationally and this is another area of focus in my research. Lastly, I am interested in the links between housing and labour markets. Related to this, I am interested in what we can learn from the housing market about how people value what are typically termed non-market services. It is no secret that houses close to good schools or transport links are more expensive than those that are not. Economic techniques can reveal how much the average household values a whole range of amenities, including natural and cultural amenities and market depth. While fiscal policy has traditionally been based on costs, rather than the ratio of costs and benefits, high levels of debt throughout the developed world mean that the focus of policymakers must shift to understanding social return on public spending, rather than seeing it as a black box. In this context, the valuation of amenities moves from being an interesting phenomenon to the foundation of solid fiscal policy. My final area of focus in economic geography is sustainable and behavioural real estate. If making your home more energy efficient has both an income effect (lower bills) and a wealth effect (your home is more valuable), why don't all homeowners upgrade their homes? Is this explained by imperfect capital markets, with banks unwilling to lend for such purposes, or imperfect rationality, with households not budging until they are nudged. My interests in economic history are quantitative and relate to income and wealth. They can be broken down into two main areas. The first is relative factor returns: how much did a skilled worker earn, relative to an unskilled worker or an acre of land? How and why did this vary across countries and over time? Income inequality is a major policy concern, both within and across economies, and understanding the contribution of factors such as trade and technology over the long run can inform current debates. Lastly, I am interested in constructing long-run series in income and wealth. Over recent years, I and other have been building a dataset of Irish equity prices from the 1800s. The relationship between equity returns and returns on other assets, such as property or human capital, is pivotal in understanding how the economic system as a whole, which is beyond anyone's control, functions.


  • Title
    • H2PINA - Historical House Prices in North America, 1900-1960
  • Summary
    • Building a dataset of sales and rental listings for North American housing markets, for the period 1900-1960, from newspaper archives
  • Funding Agency
    • Trinity College Dublin
  • Date From
    • May 2015
  • Date To
    • April 2016


Economic Geography; ECONOMIC HISTORY; Urban Economics


Awards and Honours

Barrington Medal 2015

Foley-Béjar Scholarship, Balliol College (Oxford) 2011

Foundation Scholarship, Trinity College (Dublin) 2000

Depfa Bank Scholarship 2001


American Economic Association January 2012

European Economic Association January 2012

Royal Economic Society September 2013

Irish Economic Association January 2014

American Real Estate & Urban Economics Association January 2013

Economic & Social History Society of Ireland January 2014

Economic History Association January 2014

Economic History Society January 2014

Statistical & Social Inquiry Society of Ireland March 2015