How central banking lost its way
Stability is the task for which central banks were established. But by becoming involved in social, indigenous or environmental policy areas, central banks lost sight of it. [...]
New Zealand
NZ’s revolution in central banking and the stagflation monster
In Māori mythology, the hero Māui once used a magic jawbone to slow the sun. If New Zealand is to avoid galloping inflation, the RBNZ governor will need to devise some similar trickery soon. [...]
The Whistling-in-the-Dark Budget
Reality obviously has not caught up with this Government yet. New Zealand is facing an economic crisis, but the Government is having none of it. [...]
Bridges to Ukraine
International junkets for public servants are not my cup of tea. But I will make an exception for the New Zealand Transport Agency, Waka Kotahi. Let’s send their infrastructure team to Ukraine. [...]
The foreign policy lessons NZ should learn from Germany
When it comes to their foreign policy issues, you might not think Germany and New Zealand have much in common. But the parallels in both countries’ international positioning are astonishing. [...]
Too much of a good thing
Successful economies have low unemployment. However, these are no ordinary times, and New Zealand’s ultra-low unemployment rate of 3.2% should worry everyone. [...]
Winning the Government’s lottery
If only the Government’s public relations staff were as good as Lotto New Zealand’s. [...]
Reconnecting our exporters to the world
As a remote nation, New Zealand always had to work extra hard to remain on the world’s radar. The pandemic amplified this challenge. [...]
Ten years of Initiative
Who would start a serious think tank on April Fools’ Day? Presumably someone with a good sense of humour. [...]
Welcome to the 1970s
Perhaps the most urgent task is to realise that demand-side stimulus cannot fix supply shocks. Ultimately, it took policymakers most of the 1970s to finally realise that. [...]