Analytical Notes
The Analytical Notes series encompasses a range of background papers prepared by Reserve Bank staff.
Unless otherwise stated, views expressed are those of the authors, and do not necessarily represent the views of the Reserve Bank.
Latest Edition
Measures for Assessing the sustainability of house prices in New Zealand
Matthew Brunton
AN2021/08, Analytical Note, 02/11/2021
This Note describes a range of metrics that can be used as indicators of whether current house prices have deviated from sustainable levels. This builds on literature where the value of houses is estimated using user-cost models. Research on understanding sustainable house prices is ongoing and this framework will be refined further over time.
Analytical Note: Measures for Assessing the sustainability of house prices in New Zealand (PDF 1.27 MB)
Technical appendix to Measures for Assessing the Sustainability of House Prices in New Zealand (PDF 907.62 KB)
Measures for Assessing the Sustainability of House Prices in New Zealand
Matthew Brunton
AN2021/08, Analytical Note, 02/11/2021
This Note describes a range of metrics that can be used as indicators of whether current house prices have deviated from sustainable levels. This builds on literature where the value of houses is estimated using user-cost models. Research on understanding sustainable house prices is ongoing and this framework will be refined further over time.
Analytical Note: Measures for Assessing the sustainability of house prices in New Zealand (PDF 1.27 MB)
Technical appendix to Measures for Assessing the Sustainability of House Prices in New Zealand (PDF 907.62 KB)
Measures for Assessing the Sustainability of House Prices in New Zealand
Chronology of Analytical Notes
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AN2021/08
Measures for Assessing the sustainability of house prices in New Zealand
Matthew Brunton
Analytical Note: Measures for Assessing the sustainability of house prices in New Zealand (PDF 1.27 MB)
This Note describes a range of metrics that can be used as indicators of whether current house prices have deviated from sustainable levels. This builds on literature where the value of houses is estimated using user-cost models. Research on understanding sustainable house prices is ongoing and this framework will be refined further over time.
Matthew Brunton
Analytical Note: Measures for Assessing the sustainability of house prices in New Zealand (PDF 1.27 MB)
This Note describes a range of metrics that can be used as indicators of whether current house prices have deviated from sustainable levels. This builds on literature where the value of houses is estimated using user-cost models. Research on understanding sustainable house prices is ongoing and this framework will be refined further over time.
AN2021/07
Monetary Policy Pass-Through to Mortgage Rates
Severin Bernhard; James Graham; Shaun Markham
Monetary Policy Pass-Through to Mortgage Rates (PDF 1.43 MB)
This Note examines how monetary policy passes through to mortgage interest rates across the economy and at the individual bank level in the short and medium-term.
Severin Bernhard; James Graham; Shaun Markham
Monetary Policy Pass-Through to Mortgage Rates (PDF 1.43 MB)
This Note examines how monetary policy passes through to mortgage interest rates across the economy and at the individual bank level in the short and medium-term.
AN2021/06
Research on the impact of lower interest rates on wealth and income
Gulnara Nolan
The household cash flow effects of low interest rates in New Zealand (PDF 383.86 KB)
The Reserve Bank is carrying out a wide range of research about the different ways changes in interest rates could affect the distribution of wealth and income in New Zealand. Each research paper is aimed at giving the bank (and other decision-makers) parts of the jigsaw puzzle, to help our understanding, rather than a complete picture all at once.
Gulnara Nolan
The household cash flow effects of low interest rates in New Zealand (PDF 383.86 KB)
The Reserve Bank is carrying out a wide range of research about the different ways changes in interest rates could affect the distribution of wealth and income in New Zealand. Each research paper is aimed at giving the bank (and other decision-makers) parts of the jigsaw puzzle, to help our understanding, rather than a complete picture all at once.
AN2021/05
Low interest rates - who are the winners and losers?
Jinny Leong
An overview of the distributional effects of monetary policy (PDF 981.28 KB)
There are winners and losers when interest rates are cut, but the international evidence is not clear that this always means the rich get richer and the poor are worse off.
Jinny Leong
An overview of the distributional effects of monetary policy (PDF 981.28 KB)
There are winners and losers when interest rates are cut, but the international evidence is not clear that this always means the rich get richer and the poor are worse off.
AN2021/04
Māori Financial Services Institutions and Arrangements
Roanna McLeod; Victor Lam
Māori Financial Services Institutions and Arrangements (PDF 585.72 KB)
In this paper, we aim to examine whether the financial system is adequately meeting the needs of all New Zealanders, in terms of financial inclusion, literacy, and security, with a particular focus on the Māori community. The purpose of this paper is to contribute to a better understanding of how the Māori economic world fits into the wider financial system that the Reserve Bank oversees.
Roanna McLeod; Victor Lam
Māori Financial Services Institutions and Arrangements (PDF 585.72 KB)
In this paper, we aim to examine whether the financial system is adequately meeting the needs of all New Zealanders, in terms of financial inclusion, literacy, and security, with a particular focus on the Māori community. The purpose of this paper is to contribute to a better understanding of how the Māori economic world fits into the wider financial system that the Reserve Bank oversees.
AN2021/03
Minding our business: Drivers of New Zealand business investment over the last 20 years
Julia Ratcliffe; Eric Tong
Minding our business: Drivers of New Zealand business investment over the last 20 years (PDF 1019.24 KB)
This Analytical Note aims to understand the drivers of business investment in New Zealand over the past 20 years.
Julia Ratcliffe; Eric Tong
Minding our business: Drivers of New Zealand business investment over the last 20 years (PDF 1019.24 KB)
This Analytical Note aims to understand the drivers of business investment in New Zealand over the past 20 years.
AN2021/02
Funding and reserving Canterbury earthquake insurance claims
Robert Cole
Funding and reserving Canterbury earthquake insurance claims (PDF 1.03 MB)
The 2010-11 Canterbury earthquakes are by far the most costly insurance event in New Zealand’s history with estimated property insurance claims costs of around $38 billion, and remain one of the most significant globally.
Robert Cole
Funding and reserving Canterbury earthquake insurance claims (PDF 1.03 MB)
The 2010-11 Canterbury earthquakes are by far the most costly insurance event in New Zealand’s history with estimated property insurance claims costs of around $38 billion, and remain one of the most significant globally.
AN2021/01
Down to business: Which QSBO measures are the best at forecasting?
Hamish Fitchett; Finn Robinson
Down to business: Which QSBO measures are the best at forecasting? (PDF 1.5 MB)
We investigate which measures from the Quarterly Survey of Business Opinion (QSBO) are best at forecasting macroeconomic variables in New Zealand over the past decade.
Hamish Fitchett; Finn Robinson
Down to business: Which QSBO measures are the best at forecasting? (PDF 1.5 MB)
We investigate which measures from the Quarterly Survey of Business Opinion (QSBO) are best at forecasting macroeconomic variables in New Zealand over the past decade.
AN2020/08
Monetary policy and regional unemployment
Shaun Markham
Monetary policy and regional unemployment (PDF 1.19 MB)
Shaun Markham
Monetary policy and regional unemployment (PDF 1.19 MB)
AN2020/07
AN2020/06
Has the Reserve Bank responded differently to upturns and downturns in inflation and economic activity?
Severin Bernhard; Jamie Culling; Punnoose Jacob
Has the Reserve Bank responded differently to upturns and downturns in inflation and economic activity? (PDF 986.16 KB)
Severin Bernhard; Jamie Culling; Punnoose Jacob
Has the Reserve Bank responded differently to upturns and downturns in inflation and economic activity? (PDF 986.16 KB)
AN2020/05
Regional Labour Market Spillovers
Cameron Haworth
Regional Labour Market spillovers (PDF 1.13 MB)
This analytical note examines how unemployment in one region could spill over and influence unemployment in other regions.
Cameron Haworth
Regional Labour Market spillovers (PDF 1.13 MB)
This analytical note examines how unemployment in one region could spill over and influence unemployment in other regions.
AN2020/04
Economic impacts of COVID-19 containment measures
Tom Stannard; Gregorius Steven; Chris McDonald
Economic impacts of COVID-19 containment measures (PDF 546.28 KB)
Containment measures are limiting the spread of COVID-19 and saving lives. It has come at a cost, however, of reduced economy activity. This paper outlines our estimates of the impact on GDP from each of the COVID-19 alert levels.
Tom Stannard; Gregorius Steven; Chris McDonald
Economic impacts of COVID-19 containment measures (PDF 546.28 KB)
Containment measures are limiting the spread of COVID-19 and saving lives. It has come at a cost, however, of reduced economy activity. This paper outlines our estimates of the impact on GDP from each of the COVID-19 alert levels.
AN2020/03
Employment and hours worked adjustment in New Zealand's labour market
Jamie Culling; Finn Robinson
Employment and hours worked adjustment in New Zealand's labour market (PDF 1.23 MB)
Jamie Culling; Finn Robinson
Employment and hours worked adjustment in New Zealand's labour market (PDF 1.23 MB)
AN2020/02
Using job transitions data as a labour market indicator
Christopher Ball; Adam Richardson; Thomas van Florenstein Mulder
Using job transitions data as a labour market indicator (PDF 718.89 KB)
Christopher Ball; Adam Richardson; Thomas van Florenstein Mulder
Using job transitions data as a labour market indicator (PDF 718.89 KB)
AN2020/01
GDP Plus: An Economic Activity Indicator for New Zealand
Michael Callaghan; Thomas van Florenstein Mulder
GDP Plus: An economic activity indicator for New Zealand (PDF 978.59 KB)
Michael Callaghan; Thomas van Florenstein Mulder
GDP Plus: An economic activity indicator for New Zealand (PDF 978.59 KB)
AN2019/11
Low wage growth and job-to-job transitions: Evidence from administrative data in New Zealand
Christopher Ball; Nicolas Groshenny; Özer Karagedikli; Murat Özbilgin; Finn Robinson
Low wage growth and job-to-job transitions: Evidence from administrative data in New Zealand (PDF 1005.68 KB)
Christopher Ball; Nicolas Groshenny; Özer Karagedikli; Murat Özbilgin; Finn Robinson
Low wage growth and job-to-job transitions: Evidence from administrative data in New Zealand (PDF 1005.68 KB)
AN2019/10
Have the effects of monetary policy on inflation and economic activity in New Zealand changed over time?
Jamie Culling; Punnoose Jacob; Adam Richardson; Evelyn Truong; Tugrul Vehbi
Have the effects of monetary policy on inflation and economic activity in New Zealand changed over time? (PDF 1.01 MB)
Jamie Culling; Punnoose Jacob; Adam Richardson; Evelyn Truong; Tugrul Vehbi
Have the effects of monetary policy on inflation and economic activity in New Zealand changed over time? (PDF 1.01 MB)
AN2019/09
Evaluating indicators of labour market capacity in New Zealand
Jamie Culling; Gael Price; Finn Robinson
Evaluating indicators of labour market capacity in New Zealand (PDF 1.15 MB)
Jamie Culling; Gael Price; Finn Robinson
Evaluating indicators of labour market capacity in New Zealand (PDF 1.15 MB)
AN2019/08
Suite as! Augmenting the Reserve Bank’s output gap indicator suite
Punnoose Jacob; Finn Robinson
Suite as! Augmenting the Reserve Bank’s output gap indicator suite (PDF 2.06 MB)
Punnoose Jacob; Finn Robinson
Suite as! Augmenting the Reserve Bank’s output gap indicator suite (PDF 2.06 MB)
AN2019/07
Have the LVR restrictions improved the resilience of the banking system?
Chris Bloor; Bruce Lu
Have the LVR restrictions improved the resilience of the banking system? (PDF 1.09 MB)
Chris Bloor; Bruce Lu
Have the LVR restrictions improved the resilience of the banking system? (PDF 1.09 MB)
AN2019/06
The flattening of the Phillips curve: Rounding up the suspects
Punnoose Jacob; Thomas van Florenstein Mulder
The flattening of the Phillips curve: Rounding up the suspects (PDF 512.02 KB)
Punnoose Jacob; Thomas van Florenstein Mulder
The flattening of the Phillips curve: Rounding up the suspects (PDF 512.02 KB)
AN2019/05
Effective Monetary Stimulus: Measuring the stance of monetary policy in New Zealand
Michael Callaghan; Jamie Culling; Adam Richardson
Effective Monetary Stimulus: Measuring the stance of monetary policy in New Zealand (PDF 1.45 MB)
Michael Callaghan; Jamie Culling; Adam Richardson
Effective Monetary Stimulus: Measuring the stance of monetary policy in New Zealand (PDF 1.45 MB)
AN2019/04
Mixed in New Zealand: Nowcasting Labour Markets with MIDAS
Özer Karagedikli; Murat Özbilgin
Mixed in New Zealand: Nowcasting Labour Markets with MIDAS (PDF 1.23 MB)
Özer Karagedikli; Murat Özbilgin
Mixed in New Zealand: Nowcasting Labour Markets with MIDAS (PDF 1.23 MB)
AN2019/03
Forecasting with a Global VAR model
Thomas van Florenstein Mulder; Tugrul Vehbi
Forecasting with a Global VAR model (PDF 550.76 KB)
Thomas van Florenstein Mulder; Tugrul Vehbi
Forecasting with a Global VAR model (PDF 550.76 KB)
AN2019/02
AN2019/01
AN2018/11
AN2018/10
Ageing is a drag: Projecting labour force participation in New Zealand
Michael Callaghan; Jamie Culling; Finn Robinson
Ageing is a drag: Projecting labour force participation in New Zealand (PDF 3.57 MB)
Michael Callaghan; Jamie Culling; Finn Robinson
Ageing is a drag: Projecting labour force participation in New Zealand (PDF 3.57 MB)
AN2018/09
AN2018/08
A Note on Construction Worker Migration to New Zealand 1962 - 2018
Andrew Coleman; Özer Karagedikli
A Note on Construction Worker Migration to New Zealand 1962-2018 (PDF 294.63 KB)
Andrew Coleman; Özer Karagedikli
A Note on Construction Worker Migration to New Zealand 1962-2018 (PDF 294.63 KB)
AN2018/07
Measuring Market Discipline in New Zealand
Cameron Haworth; Liam Gillies; Tobias Irrcher
Measuring market discipline in New Zealand (PDF 1.48 MB)
Cameron Haworth; Liam Gillies; Tobias Irrcher
Measuring market discipline in New Zealand (PDF 1.48 MB)
AN2018/06
AN2018/05
Quantifying fiscal multipliers in New Zealand: The evidence from SVAR models
Anna Hamer-Adams; Martin Wong
Quantifying fiscal multipliers in New Zealand: the evidence from SVAR models (PDF 882.6 KB)
Anna Hamer-Adams; Martin Wong
Quantifying fiscal multipliers in New Zealand: the evidence from SVAR models (PDF 882.6 KB)
AN2018/04
Estimating the NAIRU and the Natural Rate of Unemployment for New Zealand
Punnoose Jacob; Martin Wong
Estimating the NAIRU and the Natural Rate of Unemployment for New Zealand (PDF 810.77 KB)
Punnoose Jacob; Martin Wong
Estimating the NAIRU and the Natural Rate of Unemployment for New Zealand (PDF 810.77 KB)
AN2018/03
AN2018/02
Funding cost pass-through to mortgage rates
Bevan Cook; Daan Steenkamp
Funding cost pass-through to mortgage rates (PDF 600.92 KB)
Bevan Cook; Daan Steenkamp
Funding cost pass-through to mortgage rates (PDF 600.92 KB)
AN2018/01
Measuring uncertainty and its impact on the New Zealand economy
Amy Rice; Tugrul Vehbi; Benjamin Wong
Measuring uncertainty and its impact on the New Zealand economy (PDF 1.29 MB)
Amy Rice; Tugrul Vehbi; Benjamin Wong
Measuring uncertainty and its impact on the New Zealand economy (PDF 1.29 MB)
AN2017/08
AN2017/07
Crypto-currencies – An introduction to not-so-funny moneys
Aaron Kumar; Christie Smith
Crypto-currencies – An introduction to not-so-funny moneys (PDF 1.28 MB)
Aaron Kumar; Christie Smith
Crypto-currencies – An introduction to not-so-funny moneys (PDF 1.28 MB)
AN2017/06
A factor model of commodity price co-movements: An application to New Zealand export prices
Adam Richardson; Amber Wadsworth
A factor model of commodity price co-movements: An application to New Zealand export prices (PDF 489.86 KB)
Adam Richardson; Amber Wadsworth
A factor model of commodity price co-movements: An application to New Zealand export prices (PDF 489.86 KB)
AN2017/05
Diving in the deep end of domestic deposits
Jed Armstrong; Nicholas Mulligan
Diving in the deep end of domestic deposits (PDF 517.76 KB)
Jed Armstrong; Nicholas Mulligan
Diving in the deep end of domestic deposits (PDF 517.76 KB)
AN2017/04
Does past inflation predict the future?
Chris McDonald
Does past inflation predict the future? (PDF 443.14 KB)
Chris McDonald
Does past inflation predict the future? (PDF 443.14 KB)
AN2017/03
Revisiting the wealth effect on consumption in New Zealand
Martin Wong
Revisiting the Wealth Effect on Consumption in New Zealand (PDF 465.48 KB)
Martin Wong
Revisiting the Wealth Effect on Consumption in New Zealand (PDF 465.48 KB)
AN2017/02
Evaluating alternative monthly house price measures for New Zealand
Jed Armstrong; Ashley Dunstan; Tobias Irrcher
Evaluating alternative monthly house price measures for New Zealand (PDF 1.53 MB)
Jed Armstrong; Ashley Dunstan; Tobias Irrcher
Evaluating alternative monthly house price measures for New Zealand (PDF 1.53 MB)
AN2017/01
The role of non-participants in labour market dynamics
Jed Armstrong; Özer Karagedikli
The role of non-participants in labour market dynamics (PDF 1.22 MB)
Jed Armstrong; Özer Karagedikli
The role of non-participants in labour market dynamics (PDF 1.22 MB)
AN2016/07
Short-term risk premiums and policy rate expectations in the United States
Michael Callaghan; Leo Krippner
Short-term risk premiums and policy rate expectations in the United States (PDF 334.12 KB)
Michael Callaghan; Leo Krippner
Short-term risk premiums and policy rate expectations in the United States (PDF 334.12 KB)
AN2016/06
Testing an Interpretation of Core Inflation Measures in New Zealand
Güneş Kamber; Benjamin Wong
Testing an Interpretation of Core Inflation Measures in New Zealand (PDF 1.45 MB)
Güneş Kamber; Benjamin Wong
Testing an Interpretation of Core Inflation Measures in New Zealand (PDF 1.45 MB)
AN2016/05
The Impact of Commodity Price Movements on the New Zealand Economy
Güneş Kamber; Gabriela Nodari; Benjamin Wong
The Impact of Commodity Price Movements on the New Zealand Economy (PDF 1.2 MB)
Güneş Kamber; Gabriela Nodari; Benjamin Wong
The Impact of Commodity Price Movements on the New Zealand Economy (PDF 1.2 MB)
AN2016/04
Developing a labour utilisation composite index for New Zealand
Jed Armstrong; Güneş Kamber; Özer Karagedikli
Developing a labour utilisation composite index for New Zealand (PDF 1.23 MB)
Jed Armstrong; Güneş Kamber; Özer Karagedikli
Developing a labour utilisation composite index for New Zealand (PDF 1.23 MB)
AN2016/03
AN2016/02
Why the drivers of migration matter for the labour market
Jed Armstrong; Chris McDonald
Why the drivers of migration matter for the labour market (PDF 1.2 MB)
Jed Armstrong; Chris McDonald
Why the drivers of migration matter for the labour market (PDF 1.2 MB)
AN2016/01
AN2015/08
AN2015/07
El Niño and its impact on the New Zealand economy
Amy Wood; Dean Ford
El Niño and its impact on the New Zealand economy (PDF 765.21 KB)
Amy Wood; Dean Ford
El Niño and its impact on the New Zealand economy (PDF 765.21 KB)
AN2015/06
AN2015/05
Estimating New Zealand’s neutral interest rate
Adam Richardson; Rebecca Williams
Estimating New Zealand’s neutral interest rate (PDF 457.06 KB)
Adam Richardson; Rebecca Williams
Estimating New Zealand’s neutral interest rate (PDF 457.06 KB)
AN2015/04
AN2015/03
Can global economic conditions explain low New Zealand inflation?
Adam Richardson
Can global economic conditions explain low New Zealand inflation? (PDF 422.34 KB)
Adam Richardson
Can global economic conditions explain low New Zealand inflation? (PDF 422.34 KB)
AN2015/02
Vulnerability of new mortgage borrowers prior to the introduction of the LVR speed limit: Insights from the Household Economic Survey
Ashley Dunstan; Hayden Skilling
Vulnerability of new mortgage borrowers prior to the introduction of the LVR speed limit: Insights from the Household Economic Survey (PDF 383.74 KB)
Ashley Dunstan; Hayden Skilling
Vulnerability of new mortgage borrowers prior to the introduction of the LVR speed limit: Insights from the Household Economic Survey (PDF 383.74 KB)
AN2015/01
The Reserve Bank's method of estimating "potential output"
Ashley Lienert; David Gillmore
The Reserve Bank's method of estimating "potential output" (PDF 533.95 KB)
Ashley Lienert; David Gillmore
The Reserve Bank's method of estimating "potential output" (PDF 533.95 KB)
AN2014/08
Design Choices in Central Clearing: Issues Facing Small Advanced Economies
Edwin Budding; David Murphy
Design Choices in Central Clearing: Issues Facing Small Advanced Economies (PDF 1.21 MB)
Edwin Budding; David Murphy
Design Choices in Central Clearing: Issues Facing Small Advanced Economies (PDF 1.21 MB)
AN2014/07
Monetary Policy and Funding Spreads
Anella Munro; Benjamin Wong
Monetary Policy and Funding Spreads (PDF 745.24 KB)
Anella Munro; Benjamin Wong
Monetary Policy and Funding Spreads (PDF 745.24 KB)
AN2014/06
Economic linkages between New Zealand and China
Ross Kendall
Economic linkages between New Zealand and China (PDF 453.05 KB)
Ross Kendall
Economic linkages between New Zealand and China (PDF 453.05 KB)
AN2014/05
AN2014/04
'N Sync: how do countries' economies move together?
James Graham; Amy Wood
'N Sync: how do countries' economies move together? (PDF 1.44 MB)
James Graham; Amy Wood
'N Sync: how do countries' economies move together? (PDF 1.44 MB)
AN2014/03
AN2014/02
Structural adjustment in New Zealand since the commodity boom
Daan Steenkamp
Structural adjustment in New Zealand since the commodity boom (PDF 492.73 KB)
Daan Steenkamp
Structural adjustment in New Zealand since the commodity boom (PDF 492.73 KB)
AN2014/01
Exchange rate and commodity price pass-through in New Zealand
Miles Parker; Benjamin Wong
Exchange rate and commodity price pass-through in New Zealand (PDF 851.51 KB)
Miles Parker; Benjamin Wong
Exchange rate and commodity price pass-through in New Zealand (PDF 851.51 KB)
AN2013/11
AN2013/10
AN2013/09
AN2013/08
What in the world moves New Zealand bond yields?
Michelle Lewis; Lauren Rosborough
What in the world moves New Zealand bond yields? (PDF 608.17 KB)
Michelle Lewis; Lauren Rosborough
What in the world moves New Zealand bond yields? (PDF 608.17 KB)
AN2013/07
Neutral interest rates in the post-crisis period
Willy Chetwin; Amy Wood
Neutral interest rates in the post-crisis period (PDF 696.04 KB)
Willy Chetwin; Amy Wood
Neutral interest rates in the post-crisis period (PDF 696.04 KB)
AN2013/06
AN2013/05
Estimating the impacts of restrictions on high LVR lending
Chris Bloor; Chris McDonald
Estimating the impacts of restrictions on high LVR lending (PDF 372.01 KB)
Chris Bloor; Chris McDonald
Estimating the impacts of restrictions on high LVR lending (PDF 372.01 KB)
AN2013/04
Estimated Taylor Rules updated for the post-crisis period
Ross Kendall; Tim Ng
Estimated Taylor Rules updated for the post-crisis period (PDF 2.08 MB)
Ross Kendall; Tim Ng
Estimated Taylor Rules updated for the post-crisis period (PDF 2.08 MB)
AN2013/03
New Zealand's short- and medium-term real exchange rate volatility: drivers and policy implications
Willy Chetwin; Tim Ng; Daan Steenkamp
New Zealand's short- and medium-term real exchange rate volatility: drivers and policy implications (PDF 643.66 KB)
Willy Chetwin; Tim Ng; Daan Steenkamp
New Zealand's short- and medium-term real exchange rate volatility: drivers and policy implications (PDF 643.66 KB)
AN2013/02
Drying out: Investigating the economic effects of drought in New Zealand
Güneş Kamber; Chris McDonald; Gael Price
Drying out: Investigating the economic effects of drought in New Zealand (PDF 3.43 MB)
Güneş Kamber; Chris McDonald; Gael Price
Drying out: Investigating the economic effects of drought in New Zealand (PDF 3.43 MB)
AN2013/01
AN2012/12
Market perceptions of exchange rate risk
Michelle Lewis
Market perceptions of exchange rate risk (PDF 864.92 KB)
Michelle Lewis
Market perceptions of exchange rate risk (PDF 864.92 KB)
AN2012/11
Building a picture of New Zealand manufacturing
Gael Price
Building a picture of New Zealand manufacturing (PDF 233.08 KB)
Gael Price
Building a picture of New Zealand manufacturing (PDF 233.08 KB)
AN2012/10
Modelling New Zealand mortgage interest rates
Enzo Cassino
Modelling New Zealand mortgage interest rates (PDF 1002.36 KB)
Enzo Cassino
Modelling New Zealand mortgage interest rates (PDF 1002.36 KB)
AN2012/09
Do actual and/or expected OCR changes affect the New Zealand dollar?
Jason Wong; Bevan Cook
Do actual and/or expected OCR changes affect the New Zealand dollar? (PDF 387.07 KB)
Jason Wong; Bevan Cook
Do actual and/or expected OCR changes affect the New Zealand dollar? (PDF 387.07 KB)
AN2012/08
Extending the Reserve Bank's macroeconomic balance model of the exchange rate
James Graham; Daan Steenkamp
Extending the Reserve Bank's macroeconomic balance model of the exchange rate (PDF 480.3 KB)
James Graham; Daan Steenkamp
Extending the Reserve Bank's macroeconomic balance model of the exchange rate (PDF 480.3 KB)
AN2012/07
AN2012/06
Not a jobless recovery, just a slow one
Rebecca Williams; David Gillmore; Nicolas Groshenny
Not a jobless recovery, just a slow one (PDF 387.18 KB)
Rebecca Williams; David Gillmore; Nicolas Groshenny
Not a jobless recovery, just a slow one (PDF 387.18 KB)
AN2012/05
AN2012/04
In search of greener pastures - improving the REINZ farm price index
Ashley Dunstan; Chris McDonald
In search of greener pastures - improving the REINZ farm price index (PDF 141.53 KB)
Ashley Dunstan; Chris McDonald
In search of greener pastures - improving the REINZ farm price index (PDF 141.53 KB)
AN2012/03
Currency intervention: the profitability of some recent international experiences
Enzo Cassino; Michelle Lewis
Currency intervention: the profitability of some recent international experiences (PDF 603.07 KB)
Enzo Cassino; Michelle Lewis
Currency intervention: the profitability of some recent international experiences (PDF 603.07 KB)
AN2012/02
Kiwi drivers - the New Zealand dollar experience
Chris McDonald
Kiwi drivers - the New Zealand dollar experience (PDF 1.41 MB)
Chris McDonald
Kiwi drivers - the New Zealand dollar experience (PDF 1.41 MB)
AN2012/01
House price expectations of households - A preliminary analysis of new survey data
Graham Howard; Özer Karagedikli
House price expectations of households - A preliminary analysis of new survey data (PDF 321.32 KB)
Graham Howard; Özer Karagedikli
House price expectations of households - A preliminary analysis of new survey data (PDF 321.32 KB)
AN2011/01
The macroeconomic impact of the Rugby World Cup
Adam Richardson
The macroeconomic impact of the Rugby World Cup (PDF 287.12 KB)
Adam Richardson
The macroeconomic impact of the Rugby World Cup (PDF 287.12 KB)