This paper develops an estimated New Keynesian model of a commodity-exporting economy for an integrated policy framework, integrating the full range of policies used in practice and featuring a range of nominal and real rigidities, macro-financial linkages, and transmission channels of external...

This research builds a vector Autoregression model of the New Zealand economy and then analyses its dynamic responses to a number of shocks originating from both internal and external sources. In particular, impulse responses from a foreign output shock, terms of trade shock, shocks to domestic...

This paper estimates the macroeconomic effects of government spending shocks in New Zealand. Using a structural vector autoregression (SVAR) model, I find small output multipliers for government consumption but large multipliers for government investment. Importantly, the real exchange rate...