Tag Archives: JELE Macroeconomics and Monetary Economics

RBNZ Macroeconomics Workshop 22 June 2021

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

The workshop will take place 22 June – at the Reserve Bank of New Zealand and remotely.

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.

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

Presented papers will cover issues including:
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    

You can find more details and how to register, at the Reserve Bank of NZ website.

Call for papers by 30 April 2020 for NZEP special issue on central banking

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Submission deadline now: 30 April 2020

Central banks are facing a new and uncertain landscape. The reliance on one policy objective – inflation targeting – and one tool – interest rates – has proven to be inadequate. Despite record-low interest rates over many years and massive liquidity injections by central banks through asset purchase programs, inflation has not picked up as expected in many developed economies. Central banks’ operational independence has been severely questioned. So where do central banks go from here?

This Special Issue of New Zealand Economic Papers will be devoted to addressing these questions using evidence-based economic analysis. We welcome research on all aspects of central banking, including its practices, challenges and the future. We welcome both national and international submissions.

See attached for more detail NZEP Call for Papers Jan2020

18th Central Bank Macroeconomic Modelling Workshop 7-8 Dec 2015

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The Reserve Bank of New Zealand will host the 18th Central Bank Macroeconomic Modelling Workshop. The annual series of workshops aims to give policymakers and academics the opportunity to discuss issues related to the class of models used for policy analysis.

This year’s workshop on “Challenges for Open Economies” focuses on the growing real and financial linkages among economies, and their implications for policy analysis. Topics of particular interest include, but are not limited to: exchange rate determination and impacts, the terms of trade and commodity prices, international factor mobility, policy spillovers and the international dimension of inflation dynamics.

The workshop will be held at the InterContinental Hotel in Wellington, New Zealand on 7-8 December 2015.

Keynote Speakers:

Frank Smets, European Central Bank

Giancarlo Corsetti, Cambridge University

2015 NZEP Issue 1 offers some insights into dairy farm profitability, among other things

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The contents of New Zealand Economic Papers, Volume 49, Issue 1, 2015 (available online or by subscription):

  • An analysis of benefit flows in New Zealand using a social accounting framework by Omar Aziz, Nick Carroll & John Creedy
  • Recognising and building on freshman students’ prior knowledge of economics by Michael P. Cameron & Steven Lim
  • Current trends in economics enrolments at secondary and tertiary level by Stephen Agnew
  • Improving the profitability of Waikato dairy farms: Insights from a whole-farm optimisation model by Graeme J. Doole
  • Demographic transition and the real exchange rate in Australia: An empirical investigation by Kamrul Hassan, Ruhul Salim & Harry Bloch
  • Exchange-rate volatility and commodity trade between the USA and Indonesia by Mohsen Bahmani-Oskooee, Hanafiah Harvey & Scott W. Hegerty

April 2014 AI (#49) includes four banking lectures by Grimes

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Asymmetric Information Issue 49 2014

Issue No. 49 April 2014 contents:

  • Editorial
  • An Interview with Grant Scobie (by Brian Silverstone) – repeat three times ‘Economics is all about incentives; the rest is commentary’.
  • The Five Minute Interview (Sholeh Maani)
  • From the 2B RED File (by Grant Scobie)
  • ‘Frames’ (by Stuart Birks)
  • Blogwatch (by Paul Walker)
  • Fine Lines (by Stephen Knowles)
  • Four Lectures on Banking (by Arthur Grimes)
  • The Integrated Data Infrastructure (Bex Sullivan and Lynsey Hayes)
  • Research in Progress (Auckland University of Technology)

Conference on Reflections on 25 Years of Inflation Targeting 1-3 Dec 2014

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This year marks the 25th anniversary of the Reserve Bank of New Zealand Act (1989), which granted the Reserve Bank of New Zealand (RBNZ) its independence, introduced price stability as its primary objective, and thus instituted inflation targeting as a monetary policy regime. To mark this occasion, RBNZ and the International Journal of Central Banking (IJCB) are organising a conference on 1‐3 December 2014 in Wellington, New Zealand. More

Workshop on Interactions Between Monetary and Macro-prudential Policies 22-Oct-2014

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On 22 October the Reserve Bank of New Zealand will host a one-day workshop on interactions between monetary and macro-prudential policies in Wellington, New Zealand. The workshop aims to draw together policy analysis and research that contributes to the debate on the design of monetary and macro-prudential policies. More

What’s this ‘we’ stuff?

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Reply

Alex Tabarrok posted at Marginal Revolution about sticky wages. It’s an interesting bit of mathematics. I can see his point, that sticky wages for employed people can keep the labour market from adjusting. Because the unemployed are a minority of the labour force, even large reductions in the wages they are willing to accept have a small impact on the total wage bill.

My reaction to this bit

If all employed workers accepted a 5% pay cut (or if the government ordered such a cut) and the Fed kept targeting inflation, we’d experience rapid economic growth.

was, ‘What’s this “we” stuff?’. Continue reading →

Initial Christchurch earthquake impact on spending

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Nationwide spending through the Paymark electronic payments network dropped 6% from year-ago levels on Tuesday 22 February, the day of the second major Christchurch earthquake, mostly due to a 33% spending drop in the Canterbury region. Subsequent to this there has been only partial recovery in Canterbury and some shift in spending to South Canterbury, but spending beyond these two regions has resumed at the faster-than-of-late 6% p.a. witnessed earlier in February.

Welcome to the NZAE blog

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The intention of this blog is to highlight economists’ work and provide material to support education and general understanding, especially as it relates to economics in New Zealand. It is not a forum for advocacy (other than better use of economics). Posts are categorised as Events, Insights or NZAE News (includes subcategories). Posts are also tagged with the JEL Classification and/or as considered appropriate (see list below). Authors are generally Councillors of the NZAE. Anyone can provide comments. Any views expressed are not necessarily those of the NZAE.