The Fiscal Responsibility Act 1994 states that, as a principle of responsible fiscal management, a New Zealand government should ensure total Crown debt is at a prudent level by ensuring total operating expenses do not exceed total operating revenues. In this paper a structural VAR model is...

This paper examines sychronisation and volatility of the business cycles of Pacific Rim countries which are closely linked by trade. Close synchronisation is evident amongst groups of countries, but it is difficult to establish meaningful cycle synchronisation between countries outside these...