Australasian macroeconomics workshop, Wellington

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Thursday 8 April and Friday 9 April

The 15th Australasian Macroeconomics Workshop was hosted by the Reserve Bank of New Zealand and the School of Economics and Finance at Victoria University of Wellington.

The conference venue was within the Government Building part of Victoria University of Wellington's Pipitea Campus.

Venue: Government Building, 15 Lambton Quay, Wellington

Keynote Speaker

John Geweke (University of Technology Sydney (UTS))

Organising and Programme Committee:

Viv Hall (Victoria University of Wellington)
Özer Karagedikli (Reserve Bank of New Zealand)
Christie Smith (Reserve Bank of New Zealand).

Any questions regarding the workshop can be directed to Özer Karagedikli .

Email: [email protected]

Programme Day 1

Date: Thursday 8 April 2010
Location: Viv Hall, Victoria University of Wellington


Registration and coffee


Welcome and opening the workshop

Location: Lecture Theatre 1

Lecture Theatre 1

Lecture Theatre 3

Session 1



Chair: Christie Smith (RBNZ)

Simone Marsiglio (Milan) Endogenous Growth, Population Growth and the Repugnant Conclusion

Discussant: Zhixiong Zeng (Monash)

Zhixiong Zeng (Monash)

Economic Development and Consumption Inequality: Evidence and Theory

Discussant: Morris Altman (VUW)

Yi Jin (Monash)

Growth, Inflation, and Inequality in a Monetary Two-Sector Endogenous Growth Model with Physical and Human Capital

Discussant: Chia-Ying Chang (VUW)


Morning tea


Professor John Geweke (UTS)

Keynote speech

Chair: John McDermott

Location: Lecture Theatre 1



Session 2


2A: Econometrics

Chair: John Haywood (VUW)

2B: Exchange rates, Economic activity

Chair: Graeme Wells (U Tasmania)

George Verikios (Monash)

H1N1 influenza and the Australian macroeconomy

Discussant: Yang Li (U Queensland)

Özer Karagedikli (RBNZ)

Does the Kiwi fly when the Kangaroo jumps? Effects of Australian macro news on the New Zealand dollar

Discussant: Graeme Wells (U Tasmania)

Leo Krippner (RBNZ)

The eigensystem vector autoregression model

Discussant: John Haywood (VUW)

Martin Berka (Massey)

What determines European real exchanges rates

Discussant: Alessio Anzuini (ECB)

Don Harding (LaTrobe)

Imposing and testing monotonicity in generalized dynamic categorical models of the business cycle

Discussant: Mohamad Khaled (U Sydney)

Fabio Fornari (ECB)

Financial Volatility and Economic Activity

Discussant: John Randall (VUW)


Afternoon tea

Session 3


3A: Monetary Policy, Forecasting

Chair: Leo Krippner (RBNZ)

3B: Fiscal Policy

Chair: Viv Hall (VUW)

Alessio Anzuini (ECB)

The impact of monetary policy shocks on commodity prices

Discussant: Edda Claus (Melbourne Institute)

Oskar Parkyn (NZ Treasury)

Improving the Management of the Crown's Exposure to Risk

Discussant: Steve Anderson (RBNZ)

Christie Smith (RBNZ)

Evaluating ensemble density combination - forecasting GDP and inflation

Discussant: Fabio Fornari (ECB)

Paul Rodway (NZ Treasury)

Long-term fiscal modelling

Discussant: Viv Hall (VUW)




Conference dinner

Programme Day 2

Date: Friday 9 April 2010
Location: Viv Hall, Victoria University of Wellington



Lecture Theatre 1

Lecture Theatre 3

Session 4


4A: Macro- Prudential, Business cycles

Chair: Günes Kamber (RBNZ)

4B: Taxation, Fiscal Policy

Chair: Özer Karagedikli (RBNZ)

Jan Libich (LaTrobe)

Macroprudential Policies and Financial Stability

Discussant: Nicholas Groshenny (RBNZ)

Iris Claus (IRD NZ)

The effects of taxation on financial integration between Australia, New Zealand and the United States

Discussant: Andrew Coleman (MOTU)

Christoph Thoenissen (VUW)

International business cycles and role of relative price of investment goods

Discussant: Günes Kamber (RBNZ)

Peren Arin (Massey)

Should We Care About the Composition of Tax-Based Stimulus Packages? An Empirical Investigation

Discussant: Oscar Parkyn (NZ Treasury)

Edda Claus (Melbourne Institute)

International evidence on the impact of taxation on emigration rates

Discussant: Özer Karagedikli (RBNZ)


Morning tea

Session 5


5A: Potpour

Chair: Leo Krippner (RBNZ)

5B: Monetary policy, Interest rates

Chair: Glenn Otto (UNSW)

Timo Henckel (ANU)

Threshold Pricing in a Noisy World

Discussant: Leo Krippner (RBNZ)

Nicolas Groshenny (RBNZ)

Inflation and Unemployment Gaps in U.S. Business Cycles

Discussant: Iris Claus (IRD NZ)

Otto Reich (Massey)

Understanding Homeland Security: Theory and UK Evidence

Discussant: Vladimir Petkov (VUW)

Graeme Wells (U Tasmania)

Fixed versus floating rate – Borrower characteristics and mortgage choice in Australia

Discussant: Enzo Cassino (RBNZ)

Andrew Coleman (MOTU)

Squeezing in and squeezing out: the effects of population ageing on the demand for housing

Discussant: Simone Marsiglio (Milan)

Günes Kamber (RBNZ)

Internationalised Production in a Small Open Economy

Discussant: Martin Berka (Massey, Albany)



Session 6


6A: Monetary Economics

Chair: John McDermott

Glen Otto (UNSW)

Have the Preferences of the Fed Changed over time? Some evidence from a Structural Model

Discussant: Christie Smith (RBNZ)

David Mayes (Auckland)

The quality of monetary policy and inflation performance: Globalization and its aftermath

Discussant: John McDermott (RBNZ)

Alfred Guender (Canterbury)

Instrument and Target Rules As Specifications of Optimal Monetary Policy

Discussant: Michelle Lewis (RBNZ)