Tagged: New Zealand economy

29th is not good enough – neither is 27th - The Dismal Science

Donal Curtin Aug 07, 2015

I'd no sooner posted a piece on our relatively poor infrastructure than I discovered that Ireland's National Competitiveness Council had come out with its latest annual assessment (pdf) of Ireland's competitiveness.It picked up on exactly the same point: as it happens, Ireland scores almost exactly the same as us (a global 27th for them, a global 29th for us) … Read More

Policymaking when you don’t know where you are - The Dismal Science

Donal Curtin Mar 11, 2015

Last week the Reserve Bank published the latest in its Analytical Note series, 'The Reserve Bank’s method of estimating “potential output”' (pdf here). If you're into macroeconomics in general or monetary policy in particular, you probably don't need your hand held about what potential output, and the output gap, are, but in case it's passed you by, the Note … Read More

What’s happening at the petrol pump? - The Dismal Science

Donal Curtin Mar 06, 2015

Petrol prices, and petrol profit margins, have been in the news. Labour, for example, wants an inquiry; ACT doesn't; and apparently the AA hasn't been happy about 'miserly' falls in local petrol prices as the world oil price has dropped sharply.Much of the attention has been based on MBIE's weekly monitoring of 'importer margins', the 'importer margin' … Read More

More house lending controls to come? - The Dismal Science

Donal Curtin Feb 17, 2015

As we all know, the Reserve Bank is in a difficult spot.It can't easily raise rates. It probably doesn't want to anyway, since (as I've argued before), overall monetary policy conditions are already too tight. But even if it did, the Kiwi dollar would appreciate, or at the very least not fall to the levels the RBNZ would like: … Read More

Who got what? - The Dismal Science

Donal Curtin Feb 16, 2015

The Productivity Commission has just come out this morning with an interesting new Working Paper, "Who benefits from productivity growth? –The labour income share in New Zealand", and if life's too short, there's an accompanying "cut to the chase" summary. The labour income share, by the way, is as it sounds  - "The labour income share (LIS) … Read More