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The economic impact of the Canterbury earthquakes

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Abstract

In late 2010 and in 2011, Canterbury endured a series of major earthquakes. Overall, the Canterbury economy has been reasonably resilient to the impact of the earthquakes, and the spillover to other regions in New Zealand has been limited. Goods exports and manufacturing activity appear to have held up well. Conversely, some sectors, notably retail, accommodation and hospitality, have been hard hit. International visitor numbers are sharply down, and there appears to have been some population loss from Christchurch. Repair and rebuild activity is under way and expected to accelerate from here, peaking in the next few years, but will take at least a decade to complete.

Suggested Citation

  • Miles Parker & Daan Steenkamp, 2012. "The economic impact of the Canterbury earthquakes," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 75, pages 13-25, September.
  • Handle: RePEc:nzb:nzbbul:sep2012:06
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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2012/2012sep75-3parkersteenkamp.pdf
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    6. Miles Parker & Daan Steenkamp, 2012. "The economic impact of the Canterbury earthquakes," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 75, pages 13-25, September.
    7. Robert Shimer, 2005. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies," American Economic Review, American Economic Association, vol. 95(1), pages 25-49, March.
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    Cited by:

    1. Poontirakul, Porntida & Brown, Charlotte & Noy, Ilan & Seville, Erica & Vargo, John, 2016. "The role of commercial insurance in post-disaster recovery: Quantitative evidence from the 2011 Christchurch earthquake," Working Paper Series 4980, Victoria University of Wellington, School of Economics and Finance.
    2. Rebecca Craigie & David Gillmore & Nicolas Groshenny, 2012. "Matching workers with jobs:how well is the New Zealand labour market doing?," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 75, pages 3-12, December.
    3. Rebecca Williams, 2017. "Business cycle review: 2008 to present day," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 80, pages 1-22, March.
    4. Amy Wood & Ilan Noy & Miles Parker, 2016. "The Canterbury rebuild five years on from the Christchurch earthquake," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 79, pages 1-16, February.
    5. Lisa Doyle & Ilan Noy, 2015. "The short-run nationwide macroeconomic effects of the Canterbury earthquakes," New Zealand Economic Papers, Taylor & Francis Journals, vol. 49(2), pages 134-156, August.
    6. Palmer, Carolyn, 2014. "'Flood and fire and famine': Tax policy lessons from the Australian responses to natural disasters," Working Paper Series 3718, Victoria University of Wellington, Chair in Public Finance.
    7. Miles Parker, 2016. "The impact of disasters on inflation," Reserve Bank of New Zealand Discussion Paper Series DP2016/06, Reserve Bank of New Zealand.
    8. Jeff Borland, 2014. "Recent Unemployment Experience in New Zealand," Treasury Working Paper Series 14/01, New Zealand Treasury.
    9. Dhritidyuti Bose & Renee Philip & Richard Sullivan, 2016. "Returning to Surplus: New Zealand's Post-GFC Fiscal Consolidation Experience," Treasury Working Paper Series 16/05, New Zealand Treasury.
    10. Maria Makabenta Ikeda & Arlene Garces-Ozanne, 2016. "Human Security, Social Competence and Natural Disasters in Japan and New Zealand: A Case study of Filipino migrants," Japan Social Innovation Journal, University of Hyogo Institute for Policy Analysis and Social Innovation, vol. 6(1), pages 1-42, March.

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