This paper presents a preliminary simultaneous equation model capable of explaining New Zealand's post-war inflation. It is a model consistent with New Zealand having been a small fixed exchange rate open economy subject to very extensive controls over its balance of payments' current account...

This paper presents the results of an investigation into one of the processes by which prices could have been set in New Zealand over about the last twenty years; it does not concern itself with any processes by which wages may have been determined, as the particular price process is for a...

This paper reports the theoretical development of a small aggregative model of output, employment, capital formation and inflation. The model (which we subsequently refer to as BHP) is designed to explain medium term cyclical growth in a small open economy. It allows explicitly for...

This paper evaluates how published economy-wide New Zealand models have treated concepts relevant to the long run. These concepts, a number of which have only indirect linkages to the long run, include steady-state growth, rational expectations, unit roots and cointegration, domestic and...

A two country multi-sectoral computable general equilibrium model for New Zealand and Australia is developed and applied to explore issues concerning the effects of the CER-induced tariff reductions and related topics. A comparison with a similar short-run exercise conducted in 1988 records...

We examine the macroeconomic implications of fiscal policy in a small open economy, with emphasis on the interactions between fiscal, monetary and labour market policies. The paper uses the NBNZ-DEMONZ macroeconometric model. Novel features of the model are that it includes an endogenous...