Fiscal and Monetary Policy in the wake of COVID - a workshop hosted by the New Zealand Treasury and Reserve Bank of New Zealand

Date: 22 June 2021
Location: Room RHLT2, Rutherford House, Victoria University of Wellington, 33 Bunny Street, Pipitea, Wellington and virtually.

The Reserve Bank and Treasury are pleased to announce a workshop on fiscal and monetary policy in the wake of the Covid-19 pandemic.

The aim of the workshop is to bring together the New Zealand macroeconomic research community to discuss recent innovative analysis and the outlook for macroeconomic policy.

Keynote speakers

Keynote addresses will be delivered by:

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

Key event details

Presented papers will cover:

  • Enhancing the role of fiscal policy in macro stabilisation
  • Estimating fiscal multipliers
  • Fiscal consolidation scenarios for NZ
  • Distributional effects of monetary policy
  • The welfare implications of a dual mandate for monetary policy

The workshop will also host a panel session of public sector chief economists. Panel members will offer their views on the key macroeconomic issues facing New Zealand.

Workshop agenda

Download the workshop agenda (PDF 53KB)

8:30am to 9:00am


9:00am to 9:05am


Christian Hawkesby, Assistant Governor, Reserve Bank of New Zealand

9:05am to 9:45am

Speech: New challenges for macroeconomic stabilisation policy: the role of fiscal policy

Dr Caralee McLiesh, Secretary to the Treasury

9:45am to 10:30am

Staff paper 1: Enhancing the role of fiscal policy in macro stabilisation

Oscar Parkyn, The Treasury

10:30am to 10:50am

Morning tea

10:50am to 11:35am

Staff paper 2: Fiscal Multipliers

Yifei Lyu, The Treasury
Discussant: Gunes Kamber, IMF

11:35am to 12:35pm

Keynote Speech: Understanding Monetary-Fiscal Interactions (via videolink)

Professor Eric Leeper, University of Virginia

12:35pm to 1:30pm


1:30pm to 2:15pm

Staff paper 3: Fiscal Consolidation Scenarios for NZ

Andrew Binning, The Treasury
Discussant: Kirdan Lees, Sense Partners

2:15pm to 3:00pm

Staff paper 4: Distributional Impacts of Monetary Policy

Karsten Chipenuik/Gulnara Nolan, Reserve Bank of New Zealand
Discussant: Robert Kirkby, Victoria University of Wellington

3:00pm to 3:20pm

Afternoon tea

3:20pm to 4:05pm

Staff paper 5: The Welfare Implications of a Dual Mandate for Monetary Policy

Punnoose Jacob/Murat Ozbilgin, Reserve Bank of New Zealand
Discussant: Dennis Wesselbaum, University of Otago

4:05pm to 4:50pm

Panel Discussion: Key issues in public sector policy

Dominick Stephens, The Treasury, Moderator

Public sector chief economists:

Bronwyn Croxson (Ministry of Health)
Yuong Ha (RBNZ)
Joanne Leung (Transport)
Donna Purdue (MBIE)

4:50pm to 6:00pm


Registrations are now closed

If you have queries, please contact:

Adam Richardson
Manager, Central Banking Analytics
Reserve Bank of New Zealand
[email protected]
04 471 3653


Peter Gardiner
Manager, Forecasting and Modelling
The Treasury
[email protected]
+64 4 917 6901