Construction industry payment and adjudication legislation based on the UK Housing Grants, Construction and Regeneration Act 1996 (“HGCRA”) has, to date, been enacted in 16 jurisdictions around the world. The common objective of all of the legislation is to get cash flowing in as fair a...

This article seeks to give impetus to a movement toward creating a “nutcracker” for security of payment which is applicable (and acceptable) internationally. The article recognises that forging an international consensus on a set of model provisions for security of payment would undoubtedly...

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...

Existing methodologies for estimating a government’s structural budget balance are reviewed and applied to the case of New Zealand. Besides the conventional cyclical adjustment, an assessment is made of other possible non-structural elements to the budgetary position, including the terms of...

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...