Conference paper

New Zealand's Macroeconomic Imbalances – Causes and Remedies Policy Forum, 23 and 24 June 2011

The New Zealand Treasury, in conjunction with the Reserve Bank of New Zealand and Victoria University of Wellington, held a high-level macroeconomic policy forum in June 2011.

We commissioned a limited number of eminent policy researchers to review aspects of New Zealand’s economic performance and policy regime. Their papers formed the centrepiece of the forum, which also involved key public and private sector researchers, decision-makers and policy advisers. The forum built on the policy forum hosted by the RBNZ and the Treasury in 2006 (RBNZ website).

Theme#

The focus of the forum was on New Zealand’s key external and internal imbalances. The papers explore the following issues:

  • understanding the reasons for New Zealand’s macroeconomic and financial imbalances, and the associated economic vulnerabilities; and
  • exploring whether different fiscal, monetary, structural or exchange rate policies and frameworks might help unwind, or manage, the imbalances and/or improve cyclical performance.

Speakers#

The following distinguished economists participated in the forum.

  • Craig Burnside - Keynote speaker - Professor of Economics, Duke University, Durham, North Carolina
    Profile (Duke University website)
  • Sebastian Edwards - Keynote speaker - Professor of International Business Economics, University of California, Los Angeles
    Profile (University of California website)
  • Philip Lane - Keynote speaker - Professor of International Macroeconomics, Trinity College, Dublin
    Philip Lane's website
  • Anne-Marie Brook - Principal Advisor, New Zealand Treasury
  • Prasanna Gai - Professor of Economics, University of Auckland
    Profile (University of Auckland website)
  • Peter Jarrett - Head of Division, Country Studies Division 1, OECD, Paris
    Profile (PDF on Organisation for Economic Co-operation & Development website)

The papers presented by these speakers were supported by:

  • a discussant assigned to review and comment on each paper; and
  • a general discussion panel of local and international speakers including:
    • Brian Easton - Independent scholar and consultant, and Adjunct Professor at the Institute of Public Policy, Auckland University of Technology
    • Arthur Grimes - Senior Fellow, Motu Economic and Public Policy Research and Adjunct Professor at the University of Waikato
    • David Gruen - Executive Director (Domestic), Macroeconomic Group, Australian Treasury
    • Hoe Ee Khor - Assistant Director, Asia and Pacific Department, International Monetary Fund.

Documents#

Speakers' Papers, Slides and Comments

Doc. Date Sort descending Creator Title
Edwards, Sebastian
Edwards, Sebastian
McDermott, John
Burnside, Craig
Burnside, Craig
Thoenissen, Christoph
Lane, Philip
Lane, Philip
Gemmell, Norman
Brook, Anne-Marie
Brook, Anne-Marie
Plank, David
Gai, Prasanna
Gravelle, Toni
Jarrett, Peter
Reddell, Michael

Discussion Panel Comments

Doc. Date Sort descending Creator Title
Khor, Hoe Ee
McDermott, John
Grimes, Arthur
Easton, Brian

Opening and Closing Comments

Doc. Date Sort descending Creator Title
Makhlouf, Gabriel
Opening Comments
PDF
17.75 KB
Bascand, Geoff
Closing Comments
PDF
34.05 KB

Co Hosts#

The policy forum was organised by the Treasury in conjunction with the Reserve Bank of New Zealand and Victoria University of Wellington.

Victoria University of Wellington Logo
Victoria University of Wellington Logo

Contacts for Enquiries#