The Treasury and the Reserve Bank of New Zealand hosted a conference during December 10-11, 2007 on the business cycle, housing and the role of policy. Research presented included investigations of recent shocks to the New Zealand business cycle, including the role of housing and the influence...

This article reviews how monetary policy evolved during the recession of the early 1990s and that in 1998, and discusses some of the lessons the Bank has learned.

New Zealand’s medium-to-longer-run growth prospects and general standard of living critically depend upon its labour productivity performance. Relative to most OECD countries, the level of labour productivity in New Zealand is low and,when measured as GDP per worker, the historic growth...

This article outlines how the Reserve Bank formulates and communicates its economic projections

In the first of two articles on the transmission mechanism of New Zealand monetary policy, we provide a detailed account of the process by which changes in the Reserve Bank’s primary monetary policy instrument, the Official Cash Rate (OCR), eventually come to influence the general level of...

In December 2000, the Reserve Bank issued a discussion paper entitled "Interest rate smoothing in New Zealand and other dollar bloc countries," written by Aaron Drew and L Christopher Plantier. The key points made are summarised in this paper.

In early 2006, at the request of the Reserve Bank of New Zealand and New Zealand Treasury, four international academic experts and practitioners in the macro economic policy arena visited New Zealand. Their brief was to critically examine New Zealand’s macro economic policy framework and...

On 26 March the Reserve Bank and The Treasury hosted a forum on exchange rate issues for officials and other invited participants to discuss a range of papers prepared by staff of the two institutions. In these concluding remarks, Assistant Governor John McDermott offered some personal...

An overview of the balance of payments accounting framework.