Reserve Bank of New Zealand Bulletin articles

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December 1994 (Vol 57, no 4)

Articles

Monetary Policy Statement, December 1994 (PDF 112KB)

Monetary policy, output and employment (PDF 1,305KB)

By David Archer, Economics Department
The article discusses why output and employment are not included in the Bank's operating objectives, leaving price stability the sole objective.

Alternative measures of underlying inflation: further results (PDF 1,400KB)

By Scott Roger, Economics Department
This article discusses further research on alternative measures of underlying inflation and the Bank's decision to begin publishing a weighted median measure of inflation excluding credit charges.

The behaviour of mortgage interest rates in New Zealand (PDF 744KB)

By Kelly Eckhold, Economics Department
A model of mortgage rate setting is presented and the behaviour of mortgage rates over the last year is discussed with reference to the predictions of the estimated model.

Pre-paid cards (PDF 640KB)

By Peter Ledingham, Economics Department
This article describes the similarities and difference between pre-paid cards and other payment instruments such as currency and debit cards, as well as examining some of the policy issues involved such as implications for the Reserve Bank's currency issue.

Currency trends and developments (PDF 721KB)

By John Barry, Currency Department
This article outlines changes to New Zealand's currency structure since the introduction of decimal currency in 1967 and also looks at the rise of alternative means of payment to cash.

Extended measures of financial assets and credit (PDF 990KB)

By Alan Boaden, Economics Department

Survey of Expectations (PDF 579KB)

By Graham Howard and David Hargreaves, Economics Department
This article presents the results from the November 1994 Reserve Bank of New Zealand Survey of Expectations.

The views expressed are those of individual authors and do not necessarily reflect official positions of the Reserve Bank of New Zealand. Articles published in this Bulletin may not be wholly or substantially reproduced without the permission of the Reserve Bank of New Zealand. Data, brief extracts from articles, and other material appearing in the Bulletin, may be used without restriction provided due acknowledgement is made of the source.