Eric Crampton is Chief Economist with the New Zealand Initiative.
He applies an economist’s lens to a broad range of policy areas, from devolution and housing policy to student loans and environmental policy. He served on Minister Twyford’s Urban Land Markets Research Group and on Minister Bishop’s Housing Economic Advisory Group.
Most recently, he has been looking at devolution to First Nations in Canada.
He is a regular columnist with Stuff and with Newsroom; his economic and policy commentary appears across most media outlets. He can also be found on Twitter at @ericcrampton.
Phone: +64 4 499 0790
The Reserve Bank of New Zealand has one big job when it comes to monetary policy. That job is defined in its Remit – the contract that it has with the government. Read more
Wellington (Monday, 22 September 2026) - The Reserve Bank of New Zealand has been unfairly scapegoated for the current recession when it was simply doing its job of bringing inflation under control, according to new research from The New Zealand Initiative. The research note, Monetary Policy Without Mates, reveals that while the RBNZ fought to tame inflation that peaked at nearly 8%, the government's fiscal policy worked against these efforts – forcing interest rates to stay higher for longer. Read more
The Reserve Bank of New Zealand has been unfairly scapegoated for the current recession when it was simply doing its job of bringing inflation under control. The research note, Monetary Policy Without Mates, reveals that while the RBNZ fought to tame inflation that peaked at nearly 8%, the government's fiscal policy worked against these efforts – forcing interest rates to stay higher for longer. Read more
They seem unable to help themselves. And it’s probably our fault. Read more
Dr Eric Crampton told Kerre Woodham on Newstalk ZB that New Zealand’s 0.9% economic contraction reflects the Reserve Bank “going incredibly overboard” in 2020–21 and losing credibility on inflation, making today’s correction unavoidable. He criticised government claims of restraint, noting budgets remain “incredibly stimulatory” with “massive structural deficits,” and argued that if spending had returned to 2019 wellbeing-budget levels, the Bank would have had far more room to cut interest rates. Read more
Wellington (Tuesday, 16 September 2025) – The New Zealand Initiative welcomes the Government’s decision to strengthen the governance of the Commerce Commission, describing it as an important step towards world-class regulatory practice. The Initiative’s 2018 report Who Guards the Guards? Read more
In this episode, Eric and Nick talk to Michael (Mick) Keen, a former Deputy Director of the IMF's Fiscal Affairs Department and co-author of "Rebellion, Rascals and Revenue", about the many ways taxation can go wrong throughout history. They explore bizarre historical taxes like Britain's window tax and ship taxation, discuss New Zealand's exemplary GST system, and examine how poor tax design can lead to smuggling, rebellions, and unintended economic distortions. Read more
The Local Government Business Forum has today released a report calling for binding referendums on major council spending projects, giving ratepayers a way of saying yes to projects that they support. “Council rates increased an average of 12% last year and are estimated to rise another 9% this year. Read more
The United Nations Environmental Programme’s latest Emissions Gap Report was called “No more hot air … please!” Yesterday, I joined a panel at the Climate Change & Business Conference to talk about New Zealand’s Nationally Determined Contribution – our NDC. Under the Paris Agreement, countries must produce targets for emission reductions, set policies consistent with their targets, and report on their progress. Read more
In November 2023, National, Act, and New Zealand First announced the coalition agreements that formed their government. One item stood out, at least for me. Read more
Douglas Adams, despite being very highly rated, remains underrated. His Hitchhiker’s Guide to the Galaxy is a masterpiece. Read more
In this episode, Oliver talks to Eric Crampton and Benno Blaschke about the New Zealand government’s supermarket competition reforms, which closely reflect The New Zealand Initiative’s policy framework—a major policy win that saw their research inform the Minister of Finance’s approach. They explain how their practical policy document shifted government thinking away from heavy-handed breakups and toward tackling the real structural barriers in planning and regulation. Read more
Wellington (Wednesday, 27 August 2025) – The Government’s supermarket package adopts the right strategy for competition – remove barriers to entry and open the door to investment. That is the core approach The New Zealand Initiative has championed for years, including in a May 2025 research note, A Fast-Track Supermarket Entry and Expansion Omnibus Bill, setting out a rules‑based alternative focused on planning, consenting and overseas investment. Read more
It is hard to tell whether politicians have forgotten New Zealand’s pioneering work in inflation targeting and the central bank independence needed to back it up. Or if they simply fail to see the risks. Read more
Everyone is familiar with the term ‘monopoly’. It gets used a lot, often inappropriately. Read more