We compute classical real GDP business cycles and growth cycles, contrast classical recessions with 'technical' recessions, and assess the sensitivity of our peaks and troughs to data revisions. Calling a technical recession after two successive quarters of negative growth can provide...

This paper identifies the expansion and contraction phases of New Zealand's national and regional house prices, by employing techniques typically used to study cycles in real activity, the so-called Classical cycle dating method. We then enquire into the nature of the cycles, addressing five...

There are no official quarterly real GDP estimates for New Zealand, for the period prior to 1977. We report the development of a seasonally adjusted series for a period of more than 60 years from mid-1947, and evaluate statistical properties. The series were developed by linking quarterly...

Arguments for and against abandoning independent national currencies and monetary policies have varied considerably over time and by country. For New Zealand, it can be argued that a key driving force behind recent debates has been the conduct of monetary policy and the need for improved overall...

We establish classical business cycles, for New Zealand's 14 regions and aggregate national activity. Regional cycles rarely die of old age but are terminated by particular events. Concordance statistic measures show significant contemporaneous associations between the New Zealand cycle and 11...

The current economic expansion is one of the more enduring in New Zealand's post-war period. But is this a change from past behaviour? We examine New Zealand's post-war business cycles for the sample period 1946q1 to 2005q4, using a newly developed 60-year quarterly time series for real GDP. The...

Arguments for and against abandoning independent national currencies and monetary policies have varied considerably over time and by country. For New Zealand, it can be argued that a key driving force behind recent debates has been the conduct of monetary policy and the need for improved overall...

There are no official quarterly real GDP estimates for New Zealand, for the period prior to 1977. We report the development of a seasonally-adjusted series for a period of more than 60 years from mid-1947, and evaluate statistical properties. The series were developed by linking quarterly...