New Zealand: Selected Issues

Volume/Issue: Volume 2003 Issue 122

Publication date: May 2003

ISBN: 9781451830248

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Economics- Macroeconomics , ISCR , CR , rate , yield , government bond , household savings rate , income support , yield spread , saving rate , estimation period , savings problem , Sovereign bonds , Business cycles , Private savings , Income , Pensions , Australia and New Zealand

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Summary

This Selected Issues paper examines the external linkages of the New Zealand economy. Empirical results from vector autoregressive models suggest that economic activity in Australia tends to have more of a significant direct impact on New Zealand than does activity in the United States. Fluctuations in the U.S. GDP, however, appear to be transmitted to New Zealand indirectly through their effects on the Australian economy. Financial linkages also have been important components in transmitting shocks from Australia and the United States to the New Zealand economy.