As part of the preparation of a Medium-Term Economic Strategy, requests for tenders for assistance in modelling medium-term supply-side changes to the Irish economy were issued to three parties on the 9th August. The goal of the modelling exercise was to quantify the impacts of potential supply-side economic reforms relative to a baseline scenario. Three responses were received within the 30th August deadline, with one party indicating they would not be submitting a tender. The award criteria set out in the request for tender and used to assess submitted responses were:
- Cost
- Experience of the organisation in providing macroeconomic and fiscal modelling in Ireland
- Research history and knowledge of the Irish economy
- Understanding of the assignment
- Possession of a peer-reviewed macroeconomic model of the Irish economy which allows modelling of supply shocks to multiple sectors
Following evaluation of the two positive responses by an evaluation committee of Department of Finance officials, it was decided to award the consultancy contract to the ESRI on the basis that theirs was the most economically advantageous proposal, taking account of all the award criteria. The value of the contract is €28,750 (VAT exclusive).
In addition to the ESRI work related to modelling medium term supply-side changes to the Irish economy as set out above, a smaller direct award contract was made for a piece of work on spatial issues to the value of €3759 (excluding VAT). This work was approved through the normal channels in the Department.