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Some perspectives on past recessions

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Author Info

  • Michael Reddell
  • Cath, Sleeman

    (Reserve Bank of New Zealand)

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    Abstract

    As the economy slows in 2008, this article sketches out some key features of past recessions in New Zealand – all the downturns since the mid-1960s, plus the Depression of the 1930s. Each recession was triggered, in significant part, by international events, but each was exacerbated, in part, by domestic pressures or imbalances. History doesn’t mechanically repeat itself, but these past experiences are a sobering backdrop against which to consider the outlook for the New Zealand economy over the next year or two.

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    File URL: http://www.rbnz.govt.nz/research_and_publications/reserve_bank_bulletin/2008/2008jun71_2reddellsleeman.pdf
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    Bibliographic Info

    Article provided by Reserve Bank of New Zealand in its journal Reserve Bank of New Zealand Bulletin.

    Volume (Year): 71 (2008)
    Issue (Month): (June)
    Pages:

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    Handle: RePEc:nzb:nzbbul:june2008:2

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    Cited by:
    1. Bordo, Michael & Hargreaves, David & Kida, Mizuho, 2011. "Global shocks, economic growth and financial crises: 120 years of New Zealand experience," Financial History Review, Cambridge University Press, vol. 18(03), pages 331-355, December.
    2. Lattimore, Ralph & Le, Trinh & Claus, Iris & Stroombergen, Adolf, 2009. "Economic progress and puzzles : Long-term structural change in the New Zealand economy, 1953-2006," NZIER Working Paper 2009/6, New Zealand Institute of Economic Research.
    3. McKelvie, S. & Hall, Viv B., 2012. "Stylised facts for New Zealand business cycles: A post-1987 perspective," Working Paper Series 2364, Victoria University of Wellington, School of Economics and Finance.
    4. Rebecca Craigie & David Gillmore & Nicolas Groshenny, 2012. "Not a jobless recovery, just a slow one," Reserve Bank of New Zealand Analytical Notes series AN2012/06, Reserve Bank of New Zealand.

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