New Zealand: Selected Issues

International Monetary Fund

No 2008/164, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper assesses the impact of a disruption to capital inflows by examining past episodes of capital inflows in New Zealand and other countries. It also reviews the IMF’s Global Economy Model (GEM), which is used to provide some estimates of the equilibrium relationship between New Zealand’s real effective exchange rate and real commodity prices. The analysis also suggests that permanent changes in non-energy commodity prices can have a significant impact on New Zealand’s equilibrium exchange rate.

Keywords: ISCR; CR; good; goods; GDP; goods production; price; tradable commodity good; commodity-market imbalance; nontradable good; sector productivity gap simulation; Capital inflows; Commodity prices; Productivity; Real effective exchange rates; Global; Asia and Pacific; Australia and New Zealand (search for similar items in EconPapers)
Pages: 34
Date: 2008-05-19
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Citations: View citations in EconPapers (2)

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