Reforming the controversial policyExecutive summary:By 2020 the EU is planning to increase expenditure on the Common Agricultural Policy (CAP) by some €8billion a year at a time of catastrophically bad public finances.Despite the concern about pressure on food prices, reform of the CAP will...

This essay reviews recent developments related to economic integration after Covid-19, including European Union's trade agreements in Australasia amidst new global geopolitical risks, and European integration and foreign direct investment after Covid-19. The essay concludes that in a...

Globalisation, being the trend towards increasing global economic integration, is one of the largest forces, if not the largest force, affecting world economies at present. The current period of global economic integration is unprecedented and the pace and extent of globalisation will continue...

New Zealand's fiscal policy framework has been in place for nearly 20 years. At its core is a set of principles around maintaining prudent levels of public debt and running fiscal surpluses on average over time. This framework, combined with an extended period of economic growth, contributed to...

Estimates of marginal tax rates (MTRs) faced by individual economic agents, and for various ggregates of taxpayers, are important for economists testing behavioural responses to changes in those tax rates. This paper reports estimates of a number of personal marginal income tax rate measures for...

This paper investigates the macroeconomic effects of fiscal policy in New Zealand using a structural Vector Autoregression (SVAR) model. The model is the five-variable structural vector autoregression (SVAR) framework proposed by Blanchard and Perotti (2005), further augmented to allow for the...