Showing 161 - 170 of 202
Any investigation into a potential quantitative role for inflationary expectations can proceed in three steps. The first, to obtain or construct time series data which represent the expected rate of inflation; the second, to research how such inflationary expectations could have been formed; and...
Persistent link: https://www.econbiz.de/10013148820
Previous research has evaluated New Zealand's growth performance in the context of a decade of microeconomic and macroeconomic reforms, and concluded that on balance there is scope for cautious optimism on the sustainability of recently improved economic growth (Hall, 1995, 1996). That research...
Persistent link: https://www.econbiz.de/10013148821
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...
Persistent link: https://www.econbiz.de/10013148822
The first objective of this chapter is to document New Zealand's aggregate and sectoral growth performance for the period 1985-1994, compared with that of other (OECD) countries and its own post War performance. The second, is an essentially neoclassically-based “growth accounting” or...
Persistent link: https://www.econbiz.de/10013148823
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...
Persistent link: https://www.econbiz.de/10013148824
The chapter commences with a brief background to new Zealand's reform processes, followed by a selective evaluation of macro-economic performance to date. The focus is on economic growth, unemployment, inflation, fiscal and external imbalances, and debt sustainability. Structural adjustment and...
Persistent link: https://www.econbiz.de/10013148825
The principal aim of this paper is to present some initial estimates and inferences based on Phillips' (Phillips 1991) theoretical results and suggested empirical procedures. The innovative aspects are: (1) it provides an early application of this methodology to macroeconomic time-series data,...
Persistent link: https://www.econbiz.de/10013148826
New Zealand's operationally independent Reserve Bank should remain focused on achieving its primary objective of stability in the general level of prices. This should be under widely accepted flexible inflation targeting conditions and without distraction from at best temporarily effective...
Persistent link: https://www.econbiz.de/10013149022
ORANI is a general purpose short-run general equilibrium model of the Australian economy. ORANI-LFT extends this basic model to enable examination of tax issues and interfuel substitution in the industrial sector. The extended model is used to illustrate the effects of a substantial switch from...
Persistent link: https://www.econbiz.de/10013149024
By international standards, New Zealand's recent business cycle fluctuations have been exceptionally volatile. Fluctuations in central government and private fixed investment expenditure, the real net exports share, the terms of trade, and interest rates have also been particularly volatile....
Persistent link: https://www.econbiz.de/10013149025