Conference summary: New Zealand's macroeconomic imbalances -- causes and remedies
This article reports on a policy forum sponsored by the New Zealand Treasury, the Reserve Bank of New Zealand, and Victoria University of Wellington on New Zealand’s macroeconomic imbalances. Chief among these imbalances is New Zealand’s large stock of net foreign liabilities, but there are also recurrent concerns about high domestic interest rates, the high exchange rate, and about New Zealand’s relatively poor growth performance. The forum highlighted that both private and public sectors contribute to imbalances, and canvassed a wide array of policies that might help reduce the vulnerabilities that these imbalances entail. Such policies include directly improving the government’s net saving, and using policies to influence private sector saving and investment behaviour.
Volume (Year): 74 (2011)
Issue (Month): (September)
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- A. S. Benetrix & P. R. Lane, 2013.
"Fiscal Shocks and the Real Exchange Rate,"
International Journal of Central Banking,
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- Agustín S. Bénétrix, 2009. "Fiscal Shocks and The Real Exchange Rate," 2009 Meeting Papers 1137, Society for Economic Dynamics.
- Seater, John J, 1993. "Ricardian Equivalence," Journal of Economic Literature, American Economic Association, vol. 31(1), pages 142-90, March.
- Luca Antonio Ricci & Gian Maria Milesi‐Ferretti & Jaewoo Lee, 2013.
"Real Exchange Rates and Fundamentals: A Cross‐Country Perspective,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 45(5), pages 845-865, 08.
- Luca Antonio Ricci & Jaewoo Lee & Gian-Maria Milesi-Ferretti, 2008. "Real Exchange Rates and Fundamentals: A Cross-Country Perspective," IMF Working Papers 08/13, International Monetary Fund.
- Beetsma, Roel & Giuliodori, Massimo & Wierts, Peter, 2009. "Budgeting versus implementing fiscal policy in the EU," CEPR Discussion Papers 7285, C.E.P.R. Discussion Papers.
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