Deterministic simulations with the Reserve Bank of New Zealand’s core FPS model show how New Zealand’s broad macroeconomic environment might have evolved over the 1990s, if a US nominal yield curve and US TWI exchange rate movements under a common currency arrangement had been...

This paper examines the optimal frequency of monetary policy meetings when their schedule is pre-announced. Our contribution is twofold. First, we show that in the standard New Keynesian framework infrequent but periodic revision of monetary policy may be desirable even when there are no...

This paper attempts to provide an empirical determination of the Philippine central bank's (BSP) recent monetary policy stance, before and after its adoption of the inflation targeting framework, as revealed by its interest rate setting behavior. Employing Clarida, Gali, and Gertler's (1998,...

Housing is the most important component of wealth for many New Zealanders. Its location is fixed and its value is influenced by economic and other factors specific to that location. Hence when people live in owner-occupied homes their wealth is strongly associated with their local economic...

New Zealand has had a complex process of adjusting commercial policy since the economic reforms began in 1984. This paper reports on the results of a research project to estimate the trends in industry assistance over this period and the variance of assistance within 2- digit industry groupings.

Economics as a 'trade' does very well in New Zealand. Economists are taken relatively seriously in government policy processes. For better or worse, economic ideas were major drivers of the reforms in the late 1980s and early 1990s. Plenty of well-paid job opportunities exist in the private...

We examine trend economic developments in New Zealand and in each of Australia’s six states and two territories (i.e. nine regions) in order to inform issues regarding economic policy harmonisation across Australasia. Our focus is on trend developments in GDP, population, GDP per capita and...

We use National Bank of New Zealand Regional Economic Activity data, to identify and characterise classical business cycle turning points, for New Zealand’s 14 regions and aggregate New Zealand activity. Using Concordance statistic measures, logistic model and GMM estimation methods,...

This paper uses valuation data from Quotable Value New Zealand to examine changes in the value of the rural land in New Zealand between 1989 and 2003. The value of rural land reflects the profitability of agriculture as well as the returns to alternative land uses, and has a large impact on the...

This paper describes the geographical location and internal mobility of the Mâori ethnic group in New Zealand between 1991 and 2001. It is often suggested that Mâori are less mobile than other ethnic groups because of attachment to particular geographical locations. We compare the mobility of...