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New Zealand: Selected Issues

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  • International Monetary Fund

Abstract

This paper discusses prospects for potential growth, house prices, household debt, and financial stability risks, and tax policy reforms in New Zealand. Despite having world-class institutions and strong policy framework, income levels remain low relative to other Organisation for Economic Co-operation and Development (OECD) countries. During 1980–2014, per capita income levels have remained about 20 percent below the OECD's average income. Longstanding structural issues need to be addressed to boost potential growth. House prices and household debt have increased rapidly in New Zealand over the past two decades. New Zealand's low national saving rate is a source of vulnerability and likely contributes to the relatively high interest rates needed to attract foreign capital.

Suggested Citation

  • International Monetary Fund, 2016. "New Zealand: Selected Issues," IMF Staff Country Reports 2016/040, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2016/040
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    References listed on IDEAS

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    1. International Monetary Fund, 2013. "New Zealand: 2013 Article IV Consultation," IMF Staff Country Reports 2013/117, International Monetary Fund.
    2. Juan Ayuso & Juan F. Jimeno & Ernesto Villanueva, 2019. "The effects of the introduction of tax incentives on retirement saving," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 10(3), pages 211-249, November.
    3. Whitehouse, Edward, 1999. "The tax treatment of funded pensions," MPRA Paper 14173, University Library of Munich, Germany.
    4. International Monetary Fund, 2015. "Australia: Selected Issues," IMF Staff Country Reports 2015/275, International Monetary Fund.
    5. Orazio Attanasio & James Banks & Matthew Wakefield, 2004. "Effectiveness of tax incentives to boost (retirement) saving: theoretical motivation and empirical evidence," IFS Working Papers W04/33, Institute for Fiscal Studies.
    6. Gale, William G & Scholz, John Karl, 1994. "IRAs and Household Saving," American Economic Review, American Economic Association, vol. 84(5), pages 1233-1260, December.
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    1. Leonardo Villar & Alejandro Becerra & David Forero & Mar�a A. Ortega, 2020. "El pilar no contributivo y su rol en el sistema de protección a la vejez : Colombia mayor social," Working Papers Series. Documentos de Trabajo 17935, Fedesarrollo.

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