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Fiscal and monetary policy in the wake of COVID

We co-hosted this workshop with The Treasury in June 2021. Its aim was to bring together the New Zealand macroeconomic research community to discuss recent innovative analysis and the outlook for macroeconomic policy.

Past Event
Tuesday, 22 June 2021 to Tuesday, 22 June 2021
9:00 am - 5:00 pm
Room RHLT2, Rutherford House, Victoria University of Wellington, 33 Bunny Street, Pipitea, Wellington and virtually.

Keynote speakers

  • Dr Caralee McLiesh (Chief Executive and Secretary to The Treasury)
  • Professor Eric Leeper (Paul Goodloe McIntire, Professor in Economics, University of Virginia)



New challenges for macroeconomic stabilisation policy: the role of fiscal policy
Presented by: Dr Caralee McLiesh (Secretary to The Treasury)

Staff paper 1

Enhancing the role of fiscal policy in macro stabilisation
Presented by: Oscar Parkyn (Treasury)

Staff paper 2

Fiscal multipliers
Presented by: Yifei Lyu (Treasury)
Discussant by: Gunes Kamber (IMF)

Keynote speech

Understanding monetary-fiscal interactions
Presented by: Eric Leeper (University of Virginia)

Staff paper 3

Fiscal consolidation scenarios for NZ
Presented by: Andrew Binning (Treasury)
Discussant: Kirdan Lees (Sense Partners)

Staff paper 4

Distributional impacts of monetary policy
Presented by: Karsten Chipenuik and Gulnara Nolan (Reserve Bank of New Zealand)
Discussant: Robert Kirkby (Victoria University of Wellington)

Staff paper 5

The welfare implications of dual mandate for monetary policy
Presented by: Punnoose Jacob and Murat Ozbilgin (Reserve Bank of New Zealand)
Discussant: Dennis Wesselbaum (University of Otago)

Panel discussion

Key issues in public sector policy
Presented by: Dominick Stephens (Treasury, Moderator)
Public sector chief economists:
Bronwyn Croxson (Ministry of Health)
Yuong Ha (Reserve Bank of New Zealand)
Joanne Leung (Transport)
Donna Purdue (Ministry of Business, Innovation and Employment)