The business cycle, housing and the role of policy - workshop
Monday 10 & Tuesday 11 December 2007
Joint with New Zealand Treasury
The workshop will present a range of work that has been completed by RBNZ, Treasury and other researchers in the areas of housing, macro policies and the business cycle more broadly.
Workshop Programme
Day One: ‘The recent business cycle and the role of policy’
Monday 10 December 2007
|
8.30am |
Coffee and registration |
|
Morning Session |
Chaired by John McDermott, RBNZ |
|
9.00am |
Opening remarks by Alan Bollard, Governor, RBNZ |
|
9:15 – 10.15 |
Changes in the transmission mechanism of monetary policy in New Zealand. (PDF 1.7MB) Aaron Drew, Rishab Sethi, Christie Smith & Ozer Karagedikli, RBNZ |
|
Discussant |
Dominick Stephens, Westpac |
|
10:15 – 10.30 |
Coffee break |
|
10:30 – 11:30 |
Identifying fiscal and monetary policy in a small open economy VAR Mardi Dungey and Renee Fry, Cambridge University, ANU, CAMA |
|
Discussant |
Christie Smith, RBNZ |
|
11:30 – 12.30 |
The roles of fiscal policy in New Zealand Bob Buckle, Felicity Barker and Rob St Clair, The Treasury |
|
Discussant |
Michael Reddell, RBNZ |
|
12:30 – 2:00 |
Lunch |
|
Afternoon Session |
Chaired by Gavin Lockwood, The Treasury |
|
2.00 – 3:00 |
Comparative approaches to fiscal rules Felicity Barker and Renee Phillip, The Treasury |
|
Discussant |
David Gruen, Australian Treasury |
|
3.00 – 4.00 |
Cycle-stabilising capital requirements: what can be achieved? (PDF 128KB) Tim Ng, RBNZ |
|
Discussant |
Bryan Chapple, MED |
|
4.00 – 4.15 |
Coffee break |
|
4:15 – 5:15 |
Housing, markets and migration in New Zealand 1962 - 2006 (PDF 413KB) Andrew Coleman and John Landon-Lane, RBNZ & Rutgers University |
|
Discussant |
Dave Mare, Motu |
|
5:15 – 6:30 |
Reception, 5th floor, New Zealand Treasury |
|
7.00pm |
Dinner: Restaurant - Shed 5 |
Day Two: ‘The role of housing in the New Zealand economy’
Tuesday 11 December 2007
|
Morning Session |
Chaired by Peter Bushnell, The Treasury |
|
9.00 – 10.00 |
DPMC summary of the inquiry into housing in New Zealand DPMC |
|
Discussant |
John Gibson, University of Waikato |
|
10:00 – 11:00 |
Impacts of land availability, housing supply and planning infrastructure on New Zealand house prices Arthur Grimes, Motu |
|
Discussant |
Ernst Zoellner, Wellington City Council |
|
11.00 – 11:30 |
Coffee Break |
|
11:30 – 12:30 |
Housing wealth, financial wealth & consumption: evidence from New Zealand (PDF 185KB) Emmanuel de Veirman, Ashley Dunstan and Felix Delbruck, RBNZ |
|
Discussant |
Khoon Goh, ANZ |
|
12:30 – 2.00 |
Lunch |
|
Afternoon Session |
Chaired by Bernard Hodgetts, RBNZ |
|
2.00 – 3.00 |
Credit constraints and housing markets in New Zealand (PDF 195KB) Andrew Coleman, RBNZ |
|
Discussant |
Iris Claus, IRD |
|
3.00 – 4.00 |
The tax system and housing demand in New Zealand (PDF 106KB) David Hargreaves, RBNZ |
|
Discussant |
Geoff Leggett, IRD |
