Search

Central banks, above all, are responsible for overseeing financial stability and controlling inflation. Many central banks, including the Reserve Bank of New Zealand (RBNZ), have inadvertently fueled excessive inflation through their responses to Covid-19, resulting in massive losses on taxpayers. Read more

This submission in response to the Grocery Industry Competition Bill is made by The New Zealand Initiative (the Initiative), a Wellington-based think tank supported primarily by major New Zealand businesses. The Initiative has been actively involved in the Commerce Commission’s market study process investigating retail grocery competition. Read more

Taxpayers commonly work hard to earn the money that governments take in taxes. Knowing the effort sacrificed they naturally want governments to spend that money wisely and well. Read more

Last month, the Initiative published an essay listing six mistakes Graeme Wheeler and I argue the world’s major central banks widely made in responding to COVID. The New Zealand media interpreted this as an attack on the RBNZ. Read more

A research note released today by The New Zealand Initiative mainly attributes the outbreak of inflation in many economies to central bank mistakes. Co-authored by Graeme Wheeler, former Governor of the Reserve Bank of New Zealand, and Bryce Wilkinson, Senior Research Fellow at The New Zealand Initiative, the paper argues that central banks overall: were too confident about their monetary policy framework; were too confident about their models; were too confident they could control output and employment; lost their focus on price stability and took on too many mandates; faced conflicts in some cases with conflicting ‘dual mandate’ objectives; and were distracted by extraneous political objectives, such as climate change. Read more

Read our submission, written by Dr Bryce Wilkinson to the Reserve Bank of New Zealand. This submission responds to the Bank’s 1 June 2022 consultation paper, Supporting New Zealand’s economic stability. Read more

In making this submission, we have drawn on the research and recommendations in our report, Work in Progress: Why Fair Pay Agreements would be bad for labour (July 2019) (our Report). A copy of our Report is appended to this submission. Read more

Kiwis households are paying more than $3,000 extra on essentials than they were 12 months ago, and policies implemented by the Government and Reserve Bank are contributing to the problem. The rising cost of living for Kiwis, shows New Zealand has the second-highest inflation rate among our major trading partners, besides the USA, and this is plausibly the result of excessive government stimulus. Read more

We strongly oppose the proposed Social Unemployment Insurance. This submission explains why we believe that such an addition to the New Zealand welfare state is undesirable. Read more

The Initiative undertakes research that contributes to the development of sound public policies in New Zealand and the creation of a competitive, open and dynamic economy and a free, prosperous, fair and cohesive society. The Initiative’s members include two New Zealand supermarket operators, Woolworths New Zealand and Foodstuffs North Island. Read more