Category Archives: Macroeconomics & Money

Growth and Recessions Of Economic Output: 1861-1939

This is an appendix for ‘Not in Narrow Seas: New Zealand History from an Economic Perspective’, a book I am writing. It is published here so that people can access the technical material. The data is available on request. Keywords: Macroeconomics & Money; Political Economy & History; Statistics; Over the last sixty years we have…
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Debt and Equity in Nz’s International Investment Position.

I wrote this note to clarify some matters to myself; I shant be surprise if they become more prominent in 2011. Keywords: Macroeconomics & Money; Statistics; I have been looking at the International Investment Position focusing on the equity to debt ratio, in effect thinking about New Zealand’s external balance sheet as if it were…
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Time for a New Strategy

The Zombienomics policies of the past few decades have not been working. Listener: 27 November, 2010. Keywords: Macroeconomics & Money; Economic theories are going through a major revision in the wake of the global financial crisis. I doubt that the foundations, built over the past 200 years, will markedly change but their superstructure (the bit…
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The Global Financial Crisis Ii (index)

In early 2009 I published a summary of my writings on the Global Financial Crisis from August 2007 to March 2009: www.eastonbh.ac.nz/?p=1351 (itself following an early note on what I called the Millennium Depression: www.eastonbh.ac.nz/?p=174). This index updates the earlier summary and its prologue remains relevant here. The summary is to trace my thinking on…
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Reserve Bank to the Rescue

The crew worked extremely hard to keep the good ship New Zealand afloat. Listener: 18 September, 2010. Keywords: Governance; Macroeconomics & Money; Political Economy & History; When Alan Bollard transferred from the position of secretary of the Treasury to that of the governor of the Reserve Bank, a good friend announced it was “more pay…
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The Canterbury Earthquake and the South Canterbury Meltdown

I was asked what was the impact of these two events on the New Zealand economy.  This hurried note covers some, but not all, the effects.  a major omission is the impact of the private capital flows arising out of the compensation by insurers. Keywords: Macroeconomics & Money; These are harder questions to answer than…
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Public Spending and Home Health Services

New Zealand Home Health National Conference, 2 September, Auckland Keywords: Macroeconomics & Money;  Social Policy; I have been asked to present an account of the economic context in which the home health services industry will function. I am not going to talk about the rising demand for its services because of population shifts taking that…
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New Zealand’s Great Banking Crisis

This is a draft extract from a chapter of “Not in Narrow Seas: A History of New Zealand from an economic perspective”. It has been circulated and hence is put here on the website. Keywords: Macroeconomics & Money; Political Economy & History; New Zealand’s greatest banking crisis came at the end of the Long Depression….
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China and the Global Financial Crisis

Paper to the Wairarapa Branch of the NZIIA, July 21 2010. Keywords:  Globalisation & Trade; Macroeconomics & Money; Introduction Future historians are likely to identify the topics of this evening’s presentation as the two major economic forces of our times: the rising importance of the Chinese economy and the Global Financial Crisis. My task tonight…
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Some Blog Comments

SOME BLOG COMMENTS The Dim-Post blog, extracted a section from Does the Government Know What it is Doing? (http://www.eastonbh.ac.nz/?p=1217).   There was a vigorous and – usually intelligent –  commentary, to which I – quite out of character – responded. Here are my replies. The full blog is at http://dimpost.wordpress.com/2010/07/16/does-the-government-know-what-its-doing/ Keywords: Macroeconomics & Money; Political Economy…
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Icebergs Ahead

What the Government’s strategy is likely to be for the upcoming Budget. Listener: 15 May, 2010 Keywords: Macroeconomics & Money; One “crisis” strategy is to announce that something is desperately wrong, which needs a dramatic policy change to fix it. Closer inspection shows the claim is more hysteria than careful assessment; the new policy benefits…
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An L-ish Future?

Our economy is suffering from some severe imbalances that are hindering an upswing. Listener: 6 February, 2010. Keywords: Macroeconomics & Money; The so-called recovery of the New Zealand economy could turn out to be L-shaped. Under this scenario, after the economy reaches the bottom of the contraction, it doesn’t move into an upswing, either rapidly…
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