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...

In January 2003, the Government asked the Commission to undertake a study into the Mutual Recognition Agreement (MRA) and Trans-Tasm an Mutual Recognition Arrangement (TTMRA).

Differences in growth, productivity and inflation levels are going to be a prominent feature of the future of EMU, as the convergence process is still ongoing in the new Member States. This convergence process can be described by the Balassa-Samuelson proposition, which states that faster growth...

This paper develops and estimates an unobserved components model for purposes of monetary policy analysis and inflation targeting in a small open economy. Cyclical components are modeled as a multivariate linear rational expectations model of the monetary transmission mechanism, while trend...

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 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,...