This paper evaluates how published economy-wide New Zealand models have treated concepts relevant to the long run. These concepts, a number of which have only indirect linkages to the long run, include steady-state growth, rational expectations, unit roots and cointegration, domestic and...

A two country multi-sectoral computable general equilibrium model for New Zealand and Australia is developed and applied to explore issues concerning the effects of the CER-induced tariff reductions and related topics. A comparison with a similar short-run exercise conducted in 1988 records...

We examine the macroeconomic implications of fiscal policy in a small open economy, with emphasis on the interactions between fiscal, monetary and labour market policies. The paper uses the NBNZ-DEMONZ macroeconometric model. Novel features of the model are that it includes an endogenous...