This paper investigates and compares the dynamic properties of the New Zealand Treasury model (NZTM) and the current version of the Reserve Bank's Forecasting and Policy System model (FPS). The main use of both two models is to produce macroeconomic forecasts. The NZTM model produces forecasts...

This paper investigates and compares the dynamic properties of the New Zealand Treasury model (NZTM) and the current version of the Reserve Bank’s Forecasting and Policy System model (FPS). The main use of both two models is to produce macroeconomic forecasts. The NZTM model produces forecasts...