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In Frank Hebert’s classic Dune series, the Bene Gesserit sisterhood’s supernatural abilities extended only so far. There was a place where their powers could not see – a place that repelled and terrified them. Read more
Scott Wilson joins Eric Crampton and Matthew Birchall to discuss the petrol excise holiday, sustainability of the land transport funding system, and what better options might be for the funding and financing of New Zealand roads in the future. To listen to our latest podcasts, please subscribe to The New Zealand Initiative podcast on iTunes, Spotify or The Podcast App. Read more
The Initiative’s reports often attract media attention. Nothing, however, could have prepared us for the storm following the release of How central bank mistakes after 2019 led to inflation. Read more
Wellington (Thursday, 28 July 2022): In response to criticism of the Reserve Bank’s performance over the past four years, the Prime Minister and the Minister of Finance have accused critics of applying ‘hindsight economics’. Nothing could be further from the truth. Read more
Whiplash occurs when the body is moving fast in one direction and is abruptly jerked back in the opposite direction. It can be very painful, lethal even. Read more
Since 2019, central banks have presided over perhaps the largest monetary stimulus the world has ever seen. Despite this, the surge in inflation surprised them. 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
A long queue of people form a circle. Each has a coin purse slung over a shoulder. Read more
Inflation in New Zealand has been on the rise (7.3 percent last quarter) as have the attempts to explain it. The RBNZ points to strong global economic activity, supply disruptions, and the Ukraine war. Read more
New Zealand’s economic and social decline is slowly receiving greater recognition amongst journalists and commentators. The litany of woes is daunting. Read more