This paper estimates the effects of the mining boom in Australia, using a large-scale structural macroeconometric model, AUS-M. We estimate that the mining boom boosted real per capita household disposable income by 13 per cent by 2013. The boom has contributed to a large appreciation of the...

This paper examines the per capita income convergence process among 23 Argentinean provinces over the period 1983-2002. The purpose of this work is to apply new estimation methods following two-step procedure as in Badinger et al. (2004). We combine a spatial filtering of variables to remove the...

This paper examines the per capita income convergence process among 23 Argentinian provinces over the period 1983-2002. The purpose of this work is to apply new estimation methods following two-step procedure as in Badinger et al. (2004). We combine a spatial filtering of variables to remove the...

This paper examines the per capita income convergence process among 23 Argentinian provinces over the period 1983-2002. The purpose of this work is to apply new estimation methods following two-step procedure as in Badinger et al. (2004). We combine a spatial filtering of variables to remove the...

This study examines the theoretical and empirical link between trade integration, the density of activities and per capita income convergence within NAFTA members during the 1980-2000 period and within MERCOSUR partners from 1985 to 2000. We first build a two countries framework based on...

This paper utilises the partial adjustment approach of Judd and Rudebusch (1998) to empirically estimate the degree of short-term interest rate smoothing by central banks in the dollar block countries. All countries appear to smooth short-term interest rates significantly, with New Zealand and...

Over the last few years, monetary policy in New Zealand has focused on reducing strong demand and inationary pressures. It has been commented that this task has been frustrated by a weakening of the monetary policy transmission mechanism in New Zealand. In this paper we draw upon a range of...

The Reserve Bank of New Zealand (RBNZ) is regarded as one of the most transparent central banks in the world. Recent research suggests that one benefit of such transparency is that financial markets better anticipate a central bank's reaction to incoming data, and in relation, do not over-react...

The New Zealand Treasury and the Reserve Bank of New Zealand both maintain and use comprehensive macroeconomic models of the New Zealand economy: NZM and FPS respectively. In this paper, shocks are applied to the two models to illustrate and compare their dynamic properties. The most notable...