Externally published research

Review a list of articles published by staff of the Reserve Bank in external journals, books and papers over the last 5 years.

2016

Hall, Viv B. & John McDermott, Recessions and recoveries in New Zealand’s post-Second World War business cycles, New Zealand Economic Papers, 50(3), 261-280.

Kamber, Güneş, Chris McDonald, Nick Sander & Konstantinos Theodoridis, Modelling the business cycle of a small open economy: The Reserve Bank of New Zealand’s DSGE model, 59, 546-569.

Lewis, Michelle & John McDermott, New Zealand’s experience with changing its inflation target and the impact on inflation expectations, New Zealand Economic Papers, 50(3), 343-361.

Parker, Miles, Price-setting behaviour in New Zealand, New Zealand Economic Papers, forthcoming.

Wiriyawit, Varang & Benjamin Wong, Structural VARs, deterministic and stochastic trends: How much detrending matters for shock identification, Studies in Nonlinear Dynamics and Econometrics, 20(2), 141-157.

2015

Claus, Edda, Iris Claus, & Leo Krippner, Monetary policy spillovers across the Pacific when interest rates are at the zero lower bound, Asian Economic Papers, 15(3), 1-27. 

Eickmeier, Sandra, Krippner, Leo & Julia von Borstel, The interest rate pass-through in the euro area during the sovereign debt crisis, Journal of International Money and Finance, 68. 386-402. 

Jacob, Punnoose, Deep habits, price rigidities and the consumption response to government spending, Journal of Money, Credit and Banking, 47(2-3), 481-510.

Kamber, Güneş, Christie Smith, & Christoph Thoenissen, Financial frictions and the role of investment-specific technology shocks, Economic Modelling, 51, 571-682.

Kamber, Güneş, Özer Karagedikli & Christie Smith, Applying an inflation targeting lens to macroprudential policy ‘institutions’, International Journal of Central Banking, 11(S1), 395-429.

Karagedikli, Özer, Michael Ryan, Daan Steenkamp, & Tugrul Vehbi, What happens when the Kiwi flies? Sectoral effects of exchange rate shocks on the New Zealand economy, Economic Modelling, 52, 945-959.

Krippner, Leo, Zero Lower Bound Term Structure Modeling: A Practitioner’s Guide, Palgrave Macmillan, NY.

Krippner, Leo, A theoretical foundation for the Nelson and Siegel class of yield curve models, Journal of Applied Econometrics, 30(1), 97-118.

Munro, Anella, Exchange rates, expected returns and risk: What can we learn from Asia Pacific currencies? BIS Papers, 82, p137-166.

Smith, Christie, Comments on: Effectiveness of macroprudential and capital flow measures in Asia and the Pacific, BIS Papers, 193-196.

Wong, Benjamin, Do inflation expectations propagate the inflation impact of real oil price shocks?  Evidence from the Michigan survey, Journal of Money, Credit, and Banking, 47(8), 1673-1689.

2014

Eyquem, Aurélien & Güneş Kamber, A note on the business cycle implications of trade in intermediate goods, Macroeconomic Dynamics,18(5), 1172-1186.

Yao, Fang, Stabilising Taylor rules when the supply shock has a unit root, Journal of Macroeconomics, 41, 16-20.

Yao, Fang, A note on increasing hazard functions and monetary transmission mechanism, Macroeconomic Dynamics, forthcoming.

2013

Fabling, Richard & Lynda Sanderson, Exporting and firm performance: Market entry, investment and expansion, Journal of International Economics, 89(2), 422–31.

Jacob, Punnoose & Gert Peersman, Dissecting the dynamics of the US trade balance in an estimated equilibrium model, Journal of International Economics, 90(2), 302–315.

Kamber, Güneş & Christoph Thoenissen, Financial exposure and the international transmission of financial shocks, Journal of Money, Credit and Banking, forthcoming.

Krippner, Leo, Measuring the stance of monetary policy in zero lower bound environments, Economics Letters,118(1), 135-138.

Maré, David & Richard Fabling, Productivity and local workforce composition, in Geography, Institutions and Regional Economic Performance, eds Riccardo Crescenzi & Marco Percoco, Advances in Spatial Science Series, Springer: Berlin and New York.

Smith, Christie, Viv Hall & John Janssen, New Zealand's macroeconomic imbalances – causes and remedies: Guest editors' introduction, New Zealand Economic Papers,47(1), 1-7.

2012

Albertini, Julien, Güneş Kamber & Michael Kirker, An estimated small open economy model with frictional unemployment, Pacific Economic Review, 17(2), 326-353.

de Veirman, Emmanuel & Andrew T. Levin, When did firms become more different? Time-varying firm-specific volatility in Japan, Journal of the Japanese and International Economies, 26(4), 578-601.

de Veirman, Emmanuel & Ashley Dunstan, Debt dynamics and the relationship between consumption and cyclical wealth changes, Economic Record, 88(282), 330-340.

Fabling, Richard, Arthur Grimes & Philip Stevens, The relatives are fine: Use of qualitative firm data in economic analysis, Applied Economics Letters, 19(7), 615-618.

Greenslade, Jennifer V. & Miles Parker, New insights into price-setting behaviour in the United Kingdom: Introduction and survey results, Economic Journal, 122(558): F1–F15.

Groshenny, Nicolas, Monetary policy, inflation and unemployment: In defense of the Federal Reserve, Macroeconomic Dynamics, forthcoming.

Kamber, Güneş & Stephen Millard, Using Estimated Models to Assess Nominal and Real Rigidities in the United Kingdom," International Journal of Central Banking, vol. 8(4), 97-119.

Kamber, Güneş & Christoph Thoenissen, The financial accelerator and monetary policy rules, Economics Letters, 115(2), 309-313.

2011

Bjørnland, Hilde C., Karsten Gerdrup, Anne-Sofie Jore, Christie Smith & Leif Anders Thorsrud, Weights and pools for a Norwegian density combination, North American Journal of Economics and Finance, 22(1), 61-76.

Bjørnland, Hilde C., Karsten Gerdrup, Anne-Sofie Jore, Christie Smith & Leif Anders Thorsrud, Does forecast combination improve Norges Bank inflation forecasts?, Oxford Bulletin of Economics and Statistics, 74(2), 163-179.

Bloor, Chris & Troy Matheson, Real-time conditional forecasts with Bayesian VARs: An application to New Zealand, The North American Journal of Economics and Finance, 22(1), 26-42

de Veirman, Emmanuel & Ashley Dunstan, Time-varying returns, intertemporal substitution and cyclical variation in consumption, The B.E. Journal of Macroeconomics, 11(1).

Eickmeier, Sandra & Tim Ng, Forecasting national activity using lots of international predictors: An application to New Zealand, International Journal of Forecasting, 27(2), 496-511.

Fabling, Richard, Arthur Grimes & Lynda Sanderson, Whatever next? Export market choices of New Zealand firms, Papers in Regional Science, 91(1), 137-159.

Guender, Alfred & Bevan Cook, Monetary policy implementation and uncovered interest parity: Empirical evidence from Oceania, New Zealand Economic Papers, 45(3), 209-229.

Hall, Viv & John McDermott, Unobserved components business cycles for New Zealand. What are they, and what might drive them?, Economic Record, 87(277), 294-317.

Hall, Viv & John McDermott, A quarterly post-Second World War real GDP series for New Zealand, New Zealand Economic Papers, 45(3), 273-298.

Haug, Alfred & Christie Smith, Local linear impulse responses for a small open economy, Oxford Bulletin of Economics and Statistics, 74(3), 470-492.

Lees, Kirdan, Troy Matheson & Christie Smith, Open economy forecasting with a DSGE-VAR: Head to head with the RBNZ published forecasts, International Journal of Forecasting, 27(2), 512-528.