Reserve Bank of New Zealand Bulletin articles
(NB. If you do not have the free Acrobat reader software necessary to read these discussion papers already installed, go to the Adobe website.)
September 1994 (Vol 57, no 3)
Articles
Forecast overview (PDF 387KB)
By Economics Department
An illustrated guide to the role of underlying inflation in monetary policy (PDF 1,018KB)
By Scott Roger, Economics Department
A graphical approach to explain why it is more appropriate for the Bank to base monetary policy on a measure of underlying inflation rather than on the official or headline, measure of inflation.
Review of cheques law in New Zealand (PDF 591KB)
By Banking Law Work Group, Banking System Department
This article outlines progress being made in a review of the law governing cheques in New Zealand.
Money and credit measures: useful economic indicators? (PDF 807KB)
By Alan Boaden, Economics Department
This article examines the relationship between money, the aggregate price level and real national income and describes the results of research carried out within the Reserve Bank.
The indicator role of asset prices (PDF 1,551KB)
By Craig Ebert, Economics Department
This article discusses the information content of asset prices and their potential role in the Bank's. checklist of monetary indicators. A preliminary empirical analysis of the relationship between asset prices, real economic activity and inflation suggest that asset prices have some useful indicator value, but insufficiently reliable to serve as key guides for policy.
Review of M3 sector statistics (PDF 437KB)
By Alan Boaden, Economics Department
This article describes the main outcomes of a recent review of M3 sector statistics.
Survey of Expectations (PDF 623KB)
By Murray Scott and Graham Howard, Economics Department
This article presents the results from the August 1994 Reserve Bank of New Zealand Survey of Expectations.
Speech
Financial reforms in New Zealand and their relevance to the central bank (PDF 838KB)
An edited version of a speech given by the Governor of the Reserve Bank to the European Policy Forum, London, 7 June 1994. The speech discusses the principles underlying recent reforms to New Zealand's public sector and their relevance to reforms at the Reserve Bank of New Zealand.
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.
(c) Reserve Bank of New Zealand
