Productivity failure: Treasury clearly has the wrong model

In various commentaries on yesterday’s GDP data, I saw suggestions that the revisions to recent years’ data suggested that the New Zealand economy had been growing “strongly” in recent years. As context for that observation, and perhaps shedding a bit of light on the sadly diminished expectations that appear to have taken hold in New … Continue reading Productivity failure: Treasury clearly has the wrong model

Sluggish productivity growth and financial crises

There has been some interesting material around recently on how many advanced economies (in particular) have undershot over the last decade or so the trends they appeared to be on previously.  Paul Krugman had an interesting column a couple of weeks back, and then the IMF had a whole chapter in their  latest World Economic … Continue reading Sluggish productivity growth and financial crises

The Secretary to the Treasury and productivity

As I noted in Saturday’s post about The Treasury, the Secretary to the Treasury –  he of the rushed citizenship presumably on the grounds of some exceptional services the previous government thought he might offer to New Zealand –  gave a speech last week on productivity. One can feel a little sorry for senior public … Continue reading The Secretary to the Treasury and productivity

The Productivity Commission’s zeal for net-zero

Among those holding the reins of power –  and their supporters –  there appears to be an almost passionate commitment to a goal of eliminating (net) all greenhouse gas emissions by 2050.  So passionate as, it seems, to care very little about the consequences for New Zealanders.  And since some of the easiest and least … Continue reading The Productivity Commission’s zeal for net-zero

A low wage, low productivity (advanced) economy

There was an article on Stuff the other day from Kirk Hope, head of Business New Zealand, suggesting (in the headline no less) that “the idea [New Zealand] is a ‘low-wage economy’ is a myth”.   I didn’t even bother opening the article, so little credence have I come to give to almost anything published under … Continue reading A low wage, low productivity (advanced) economy

Productivity: still doing poorly

I had been planning to write today about some of the recent Reserve Bank material on electronic currency.  I even took the papers away with me yesterday to read on some flights, but in the course of that reading  –  coincidentally, en route to another funeral – I discovered that a former Reserve Bank colleague, … Continue reading Productivity: still doing poorly

The government consults on slashing productivity growth

Since the current government took office, I’ve highlighted from time to time (eg here) the tension between the rhetoric about the desire to lift New Zealand’s productivity performance (poor for decades, woeful in the last five years or so) and to increase the outward orientation of the economy,  and the specific policy promises which mostly … Continue reading The government consults on slashing productivity growth

Lifting productivity (and fixing housing, etc): what I’d do

When, a week or so ago, I wrote about how our political (and bureaucratic) leaders appeared to have given up hope, and to have lost any serious interest in turning around New Zealand’s dismal long-term productivity performance (and even worse short-term performance), and linked to my recent speech on such themes, a few commenters asked … Continue reading Lifting productivity (and fixing housing, etc): what I’d do