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How does New Zealand stack up? A comparison of labour supply across the OECD

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Abstract

Labour is the largest input to the productive capacity of the economy. The amount of labour available to be employed – labour supply – is therefore important to understand when gauging inflationary pressure in the economy. However, labour market outcomes are complex. There are considerable differences in outcomes across age cohorts, gender and individuals more generally. In aggregate, New Zealand’s labour force participation has grown since 2000 to a recent all-time high. In this paper, we delve into the details of labour supply to understand what has been driving New Zealand’s historically unusual outcomes. Furthermore, we put the New Zealand experience into context by comparing post-2000 developments in labour supply across OECD economies.

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  • Jamie Culling & Hayden Skilling, 2018. "How does New Zealand stack up? A comparison of labour supply across the OECD," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 81, pages 1-19, April.
    • Handle: RePEc:nzb:nzbbul:apr2018:2
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    1. Paul Conway, 2018. "Can the Kiwi Fly? Achieving Productivity Lift-off in New Zealand," International Productivity Monitor, Centre for the Study of Living Standards, vol. 34, pages 40-63, Spring.
    2. Adam Richardson, 2019. "New Zealand Wage Inflation Post-crisis," RBA Annual Conference Papers acp2019-02, Reserve Bank of Australia, revised Jul 2019.
    3. Dean Hyslop & Amy Rice & Hayden Skilling, 2019. "Understanding labour market developments in New Zealand, 1986-2017," Reserve Bank of New Zealand Discussion Paper Series DP2019/02, Reserve Bank of New Zealand.
    4. Daniel W Richards & Helen Roberts & Rosalind H Whiting, 2020. "Female financial advisers: Where art thou?," Australian Journal of Management, Australian School of Business, vol. 45(4), pages 624-644, November.
    5. Jamie Culling & Finn Robinson, 2020. "Employment and hours worked adjustment in New Zealand's labour market," Reserve Bank of New Zealand Analytical Notes series AN2020/03, Reserve Bank of New Zealand.
    6. Punnoose Jacob & Martin Wong, 2018. "Estimating the NAIRU and the Natural Rate of Unemployment for New Zealand," Reserve Bank of New Zealand Analytical Notes series AN2018/04, Reserve Bank of New Zealand.
    7. Finn Robinson & Jamie Culling & Gael Price, 2019. "Evaluating indicators of labour market capacity in New Zealand," Reserve Bank of New Zealand Analytical Notes series AN2019/09, Reserve Bank of New Zealand.
    8. Martin Stepanek, 2022. "Sectoral Impacts of International Labour Migration and Population Ageing in the Czech Republic," Computational Economics, Springer;Society for Computational Economics, vol. 60(2), pages 375-400, August.

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