This paper presents a preliminary simultaneous equation model capable of explaining New Zealand's post-war inflation. It is a model consistent with New Zealand having been a small fixed exchange rate open economy subject to very extensive controls over its balance of payments' current account...

This paper reports the theoretical development of a small aggregative model of output, employment, capital formation and inflation. The model (which we subsequently refer to as BHP) is designed to explain medium term cyclical growth in a small open economy. It allows explicitly for...

Theoretical and empirical literature on inflation is extensive, and it abounds with diverse opinion. Principal works are of overseas origin; no substantial research has been published relating specifically to the New Zealand economy. This study does not attempt to develop a comprehensive theory...