Michael is an Economic Analyst in the Forecasting team in the Economics Department. Michael was an intern at the Reserve Bank over summer 2014/2015, prior to completing a BCom Honours in Economics and Finance at the University of Canterbury.
Michael re-joined the Reserve Bank in 2016 as an analyst in the International and Markets Analysis team. While in the Financial Market Department, he spent time modelling the term structure of interest rates and the transmission of international and financial shocks to the New Zealand economy.
Michael joined the Forecasting team in 2018 after two years in the Financial Markets Department.
Current research interests
- Forecasting New Zealand economic conditions
- Monetary policy transmission
- Term structure modelling
- Callaghan, M (2017), “Is the market always right? Improving federal funds rate forecasts by adjusting for the term premium”, Reserve Bank of New Zealand Analytical Note, November 2017, AN2017/08
- Callaghan, M (2017), “The New Zealand dollar in global markets”, Reserve Bank of New Zealand Bulletin, November 2017, Vol 80, No 9
- Callaghan, M and Krippner, L (2016), “Short-term risk premiums and policy rate expectations in the United States”, Reserve Bank of New Zealand Analytical Note, September 2016, AN2016/07