Papers and speeches

Other older papers/articles may be added as I track them down, or secure permission to post them.

New Zealand’s longer-term economic performance

The long-term level ‘misalignment’ of the exchange rate: Some perspectives on causes and consequences” (speaking notes version here) ,    Paper presented at the Reserve Bank and Treasury Exchange Rate Forum, 26 March 2013

Why New Zealand languishes  Notes that extend the analytical framework used in the March 2013 paper into a (brief) speculative treatment of a longer run of New Zealand economic history.  May 2013

“Thinking Big: And drifting slowly ever further behind”  Address to the New Zealand Initiative Members’ Retreat, Auckland, March 2016  Drifting slowly ever further behind NZI retreat presentation 17 March 2016

Think Big: Auckland, immigration, and the absence of income growth , AUT Policy Brief, May 2016

People, land, and (lots of) sea: New Zealand’s persistent economic underperformance Address to the Fabian Society, Wellington, 20 May 2016


“Economic effects of immigration and the New Zealand economic histories” (note summarizing the perspectives of post-war New Zealand economic historians in published work),  29 June 2013   Economic effects of immigration and the New Zealand economic historians

The Sharing Game,  Speaking notes for the Goethe Institute/New Zealand Initiative panel on immigration and diversity, Wellington,  November 2015


“Housing: more than a symptom and less than a cause”  Comments on a presentation by Peter Jarrett at the Treasury/Reserve Bank/VUW conference on macroeconomic imbalances, June 2011  (this was the first public version of my thoughts on the macroeconomic impact of modern New Zealand immigration policy)

“High house prices: a blunder of our governments”,   Basis for an address to a Portfolio Construction symposium, Auckland, May 2015 High house prices a blunder of our governments

Housing, financial stresses, and the regulatory role of the Reserve Bank LEANZ seminar 25 June 2015  Address to LEANZ,  Wellington, June 2015

Submission to RBNZ investor finance restrictions July 2015  Submission on the proposal to impose restrictions on access to bank finance for those purchasing rental properties

High house prices A blunder of our governments (for AUT Briefing Papers)  Published in AUT’s online Briefing Papers series August 2015

“Housing: some perspectives on how governments have messed things up”,  Speech to Nelson Property Investors’ Association,  October 2015      Housing speech for Nelson 27 Oct 2015


“Towards a Nordic tax system for New Zealand”,  Notes for use in the VUW/GEN public finance debates, Wellington, September 2012

Monetary policy and inflation targeting

“Origins and early development of inflation targeting” Reserve Bank of New Zealand Bulletin, Vol 62 No 3, September 1999

“Fiscal policy, monetary policy, and monetary conditions: 1990 and 1991”   Internal RBNZ paper written in 2010 (and released with redactions) about the interactions between fiscal and monetary policy in the early days of inflation targeting. Memo to MPC – Fiscal policy, monetary policy and monetary conditions part 1 , Memo to MPC – Fiscal policy, monetary policy and monetary conditions part 2

“Discussion of ‘Inflation Targeting and Economic Reforms in New Zealand’ “ International Journal of Central Banking, September 2015 pp 199-211  (in particular, a discussion of nominal GDP targeting as a possible alternative)

Banking regulation and supervision

Submission to RBNZ regulatory stocktake Sept 2015

Governance and structure of the Reserve Bank

time for Parliament to reform the governance of the Reserve Bank online version,           May 2015

Economic and central banking history

The New Zealand Debt Conversion Act 1933: a case study in coercive domestic public debt restructuring, Reserve Bank of New Zealand Bulletin, March 2012 pp 38-45

Discussant comments on John Singleton’s ‘The Winds of Change for Central Banks’ Presented at the RBNZ/VUW Professorial Fellowship Workshop, The Current Financial Crisis: Historical Perspectives and Implications for Central Banks.  June 2009

Christianity and economics

One Christian’s Thoughts on Economics and Money Baptist Assembly 2002, Address to the New Zealand Baptist Assembly, Christchurch, November 2002