Tagged: inflation

Now you see it - The Dismal Science

Donal Curtin Apr 25, 2018

You want to buy a widget. Bugsy’s has the model you want, it’s $6. Malone’s also sells it, for $5. You may not know Malone’s got it cheaper, so you end up paying a dollar too much at Bugsy’s. But suppose Bugsy’s and Malone’s are required by the Prevent-A-Widget-Ripoff Authority to post their prices online?  With a moment’s search you … Read More

Health costs and the Consumer Price Index - The Dismal Science

Eric Crampton May 30, 2017

So Labour and National are scrapping over whether National’s increased or decreased the health budget. There’s no question that health budgets are well up since National took office, whether in per capita terms, real terms, nominal terms, or real per capita terms. Population’s up about 10% since 2008; health budgets in CPI-adjusted terms are up about 29% since 2008. So … Read More

The Price of Food - The Dismal Science

Eric Crampton Jul 17, 2014

Imagine that, every winter, you heard stories on the radio about the terrible terrible food price increases and how they were hurting poor families. And suppose you never heard stories in the summertime about the just-as-regular price drops. What would you think about the long-term price of food?Radio NZ called me yesterday asking if I'd come on Morning Report to … Read More

Nominal and real - The Dismal Science

Eric Crampton Feb 07, 2013

Stats New Zealand reports wage growth over the last year. It's not great in nominal terms, as the Press points out: For those who actually got a pay rise, the mean increase for all surveyed salary and wage rates that rose in the December 2012 quarter was 3.0 per cent, compared with 3.1 percent in the September 2012 quarter. Read More

More on the turn from zero budgets - The Dismal Science

Bill Kaye-Blake Jan 29, 2013

My last post said that it was good to see the Government thinking my way. Specifically, its economic policy depended on a coupled austerity-Christchurch rebuild plan that didn’t work out. They have, I believe, seen the light on Christchurch and are turning away from austerity, i.e., zero budgets. Eric Crampton of Offsetting Behaviour commented. My reply got [...] … Read More