Monetary policy and operating procedures in New Zealand

Michael Dotsey

Economic Review, 1991, vol. 77, issue Sep, 13-19

Abstract: The Reserve Bank of New Zealand operates in a highly deregulated financial environment which lacks any interest rate regulation or reserve requirements. Yet the Reserve Bank has been able to implement effective monetary policy through a quantity-based procedure. This article analyzes the operating procedures of the Reserve Bank of New Zealand and the relatively small financial costs imposed by these procedures.

Keywords: Monetary policy; Banks and banking, Central (search for similar items in EconPapers)
Date: 1991
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