The variance of New Zealand's real GDP has declined since the mid-1980s. To investigate why, this paper decomposes the variance of chain-weighted estimates of production-based real GDP growth into sector shares, sector growth rate variances and co-variances. The principal explanation for the...

The variance of New Zealand’s real GDP has declined since the mid-1980s. To investigate why, this paper decomposes the variance of chain-weighted estimates of production-based real GDP growth into sector shares, sector growth rate variances and co-variances. The principal explanation for the...

This paper examines sychronisation and volatility of the business cycles of Pacific Rim countries which are closely linked by trade. Close synchronisation is evident amongst groups of countries, but it is difficult to establish meaningful cycle synchronisation between countries outside these...

Deterministic simulations with the Reserve Bank of New Zealand's core FPS model show how New Zealand's broad macroeconomic environment might have evolved over the 1990s, if a US nominal yield curve and US TWI exchange rate movements under a common currency arrangement had been experienced....