We use the ten years of experience in inflation-targeting in New Zealand since 1989 to test whether monetary policy appears to conform to the simple rules that have been recommended for it in the literature.Of the inflation targeting central banks, the Reserve Bank of New Zealand has both the...

Aim: A problem in efficiency and productivity studies in banking is that some of the input and output prices used in the estimation of cost, revenue and profit functions are proxies of questionable quality with obvious impact on the reliability of performance measures. We address this issue...