Bill Kaye-Blake

Let’s get the taxes right - The Dismal Science

Mar 14, 2013

The ‘fury’ at the suggestion of applying fringe benefit taxes (FBT) to carparks is utterly misplaced. The only proof I need of this is that ‘Unionists and business groups have joined forces in a rare alliance to lash out at the new tax’. What better indication that this new tax is being applied even-handedly? It’s about time, [...]

The big dry - The Dismal Science

Mar 12, 2013

We’re in a drought. Pastures are drying out, stock are stressed, and Wellington now has water restrictions (very mild water restrictions, it must be said). The costs are being toted up. The figures being tossed around are in the $1 to $2 billion range (0.5% to 1.0% of GDP, roughly), which compares to agriculture being ~10% [...]

How do we teach this? - The Dismal Science

Feb 15, 2013

Reading through the post-mortems of the financial crisis, I’ve been struck by something. The behaviour of the finance sector doesn’t fit the standard economics model, the Samuelson textbook depiction, or the Heckscher–Ohlin model of trade, or the Solow model, or any of the other bog-standard depictions of the economic system that we like to teach. A key [...]

Notes on the financial crisis - The Dismal Science

Feb 14, 2013

I’ve been writing a paper for today’s conference, ‘Lacan and the Discourse of Capitalism’. I’ll post an abstract or paper later, but I wanted to point to a few resources about the financial crisis for your viewing pleasure. One is this great graphic from the IMF about the structure of MBSs and CDOs. The structure [...]

An interpretation of the OCR decision - The Dismal Science

Feb 01, 2013

I’m finding this monetary discussion interesting and useful. Matt Nolan and Eric Crampton have added a lot to it. Since the Reserve Bank decided yesterday to leave the OCR unchanged at 2.5%, I thought I’d offer an interpretation. The Bank is balancing several different concerns. Some factors point toward looser policy: inflation below the target band, [...]