2016 NZEP Issue 2 including papers on inequality

The contents of New Zealand Economic Papers, Volume 50, Issue 2, 2016 (available online or by subscription):

  • Food expenditure and GST in New Zealand by Christopher Ball, John Creedy & Michael Ryan
  • Income redistribution and changes in inequality in New Zealand from 2007 to 2011: Alternative distributions and value judgements by John Creedy & Jesse Eedrah
  • Does stadium construction create jobs and boost incomes? The realised economic impacts of sports facilities in New Zealand by Samuel A. Richardson
  • Interpreting inequality measures and changes in inequality by John Creedy
  • The effects of home heating on asthma: evidence from New Zealand by Andrea Kutinova Menclova & Rachel Susan Webb
  • From complete to incomplete (contracts): A survey of the mainstream approach to the theory of privatisation by Paul Walker

Congratulations to recipients of NZAE prizes in 2016

Congratulations to the following recipients of prizes presented at NZAE Conference 2016. More detail on each prize is available at http://www.nzae.org.nz/prizes/

Honours Dissertation Prize Michael Callaghan
New Zealand Economic Policy Prize Sina Mashinchi
NZIER Poster prize – open Andrea Menclova
NZIER Poster prize – student Nazila Alinaghi
People’s choice poster Andrea Menclova
Jan Whitwell Doctoral Yonatan Dinku
Jan Whitwell Doctoral Lan Anh Tong
Jan Whitwell Bachelors / Masters Wilbur Townsend
Seamus Hogan Research Prize Anthony Anyanwu
Statistics NZ prize Lisa Meehan

David Teece awarded Distinguished Fellow of NZAE

TeeceBioProfessor David Teece is Professor of Business Administration and Thomas W. Tusher Chair in Global Business at the Haas School of Business, University of California, Berkeley. He is also Director of the Tusher Center for the Management of Intellectual Capital. As an economist, he is renowned for his research on industrial organisation, technological change and innovation, particularly as it relates to competition policy and intellectual property.

Professor Teece gained a BA and MCom(Hons) (1971) from the University of Canterbury, before completing an MA and PhD (1975) at the University of Pennsylvania. He has held teaching and research positions at University of Canterbury, University of Oxford, Stanford University and the University of Pennsylvania. He holds honorary doctorates from St. Petersburg State University, Copenhagen Business School, Lappeenranta University of Technology (Finland) and the University of Canterbury.

Professor Teece has a long and distinguished research record. His first publication appeared in New Zealand Economic Papers in 1971 (Falvey & Teece, 1971). He has published over 200 books and articles, including articles in American Economic Review, Economic Journal, Review of Economics and Statistics, Journal of Economic Behavior and Organization, Journal of Economic Perspectives and Journal of Economic Literature. According to the Science Watch index of Scientific Research in Economics and Business, his Strategic Management Journal paper, ‘Dynamic Capabilities and Strategic Management’ was the most cited paper worldwide across these fields in the decade to 2005. He has been recognised by Accenture as one of the world’s top-50 business intellectuals.

Professor Teece’s research includes empirical tests of existing theories, especially in relation to transactions cost economics; new insights into the theory of the firm, such as the dynamic capabilities approach to the determinants of ongoing firm success; and synthesis of ideas from numerous fields to form new theories that are much greater than the sum of the parts.

A brief selection of papers illustrates some of the key intellectual approaches within his work. Professor Teece was one of the first economists to develop the Panzar–Willig concept of economies of scope to show that product diversification by a firm may be efficient if based on common and recurrent use of proprietary know-how (Teece, 1980). In his paper ‘Dynamic Capabilities and Strategic Management’ (Teece, Pisano, & Shuen, 1997) (cited over 25,000 times), he analysed the sources and methods of wealth creation and capture by private firms operating in environments of rapid technological change. As in his work on economies of scope, this work emphasised the importance of firms’ proprietary and difficult-to-trade knowledge assets in generating firm wealth. In a paper published in 2007 (Teece, 2007), he emphasises that a firm’s dynamic capabilities – which enable the firm to generate wealth on an ongoing basis – derive from an entrepreneurial approach that sees firms innovate and collaborate with other enterprises and institutions. It is through the resulting ongoing transformation that firms may escape the zero-profit condition so beloved by neo-classical economists. In recent work (Teece, 2014), Professor Teece has returned to a topic that he first visited in the 1980s applying the dynamic capabilities framework to explain the success of multi-national enterprises. At the core of all these contributions is the search for insights about the process of wealth creation at the firm level.

In addition to his prodigious and influential research output, Professor Teece is renowned for his ability to express complex ideas in non-technical language, making his ideas available to a broad public. His ability to think across fields and to relate his ideas to a broad audience has been of considerable use in the field of management consulting. He is Chairman and Principal Executive Officer of Berkeley Research Group, and was Co-Founder of LECG where he was Chairman (1988–2007) and Vice-Chairman (2007–2009).

Despite being based in the United States, David has kept close research, business and philanthropic links to New Zealand. He co-authored a paper in Journal of Economic Literature on New Zealand’s economic reforms (Evans, Grimes, Wilkinson, & Teece, 1996). He is a member of the Editorial Board for New Zealand Economic Papers and is an Honorary Member of LEANZ (Law and Economics Association of New Zealand). In addition, he is Chairman of the University of Canterbury Foundation Board of Trustees, and President of the University of Canterbury Foundation in America. Professor Teece was a co-founder of Kea (Kiwi Expatriates Abroad). In 2013, he became a Companion of the New Zealand Order of Merit.

Across his many contributions, Professor David Teece has proved that he has the outstanding credentials required for the award of Distinguished Fellow of the New Zealand Association of Economists.

References

  1. Evans, L., Grimes, A., Wilkinson, B., & Teece, D. (1996). Economic reform in New Zealand 1984-95: The pursuit of efficiency. Journal of Economic Literature, 34(4), 1856–1902.
  2. Falvey, R.E., & Teece, D.J. (1971). The determination of residential section prices in some South Island Centres. New Zealand Economic Papers, 5, 100–106.
  3. Teece, D.J. (1980). Economies of scope and the scope of the enterprise. Journal of Economic Behavior and Organization, 1(3), 223–247.
  4. Teece, D.J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509–533.
  5. Teece, D.J. (2007). Explicating dynamic capabilities: The nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319–1350.
  6. Teece, D.J. (2014). A dynamic capabilities-based entrepreneurial theory of the multinational enterprise. Journal of International Business Studies, 45(1), 8–37.

April 2016 AI (#55) includes interviews with Sherwin and Crampton

Asymmetric Info Issue 55 v2 5 April 2016

Contents:

  • Editorial
  • An Interview with Murray Sherwin (by Grant Scobie)
  • The ‘Five Minute Interview’ (Eric Crampton)
  • Treasury’s Living Standards Framework (by Bryce Wilkinson)
  • Treasury’s Living Standards Framework – Response to Bryce Wilkinson (by Girol Karacaoglu)
  • Blogwatch (by Paul Walker)
  • (Motu) Residential Assimilation of Migrants (by Dave Maré, Jacques Poot and Ceridwyn Roberts)
  • (Motu) Cyclical changes in Workforce Skill and Firm Productivity Measures (by David Maré, Dean Hyslop and Richard Fabling)
  • (Stats New Zealand) New measures of inflation: Introducing the Household Living-costs Price Indexes (HLPIs) (by Alan Bentley)
  • NEW MEMBERS (January, February and early March 2016)
  • Report from GEN
  • Research in Progress (Reserve Bank of New Zealand)

First Call for 2016 NZAE Conference Papers

57th New Zealand Association of Economists Annual Conference
To be held at Auckland University of Technology Auckland
29 June July – 1 July 2016

 

The New Zealand Association of Economists is pleased to announce the Call for Papers for its 57th Annual Conference. Abstracts can be submitted here.

Submitters need to submit an abstract of not more than 250 words of their paper for either an oral presentation or the poster session. Full papers are not required at this stage, but for a paper to be considered eligible for the Statistics New Zealand, New Zealand Economic Policy, or Seamus Hogan prizes, a full paper must be submitted by 13 June.

We encourage individuals to present their research in the poster session. Some research is particularly suited to the visual style of a poster presentation; the poster session can also be suitable for work in progress and speculative research. We particularly welcome student research in the poster session.

Submitters are welcome to submit up to three papers. If we are only able to accept one of the submissions, we will contact presenters to ask which paper they would prefer to include. This limit applies to the number of papers presented by any one person, and not to the number of papers on which he or she is a co-author.

Please note that presenters whose papers are accepted for an oral presentation or poster MUST REGISTER by 16 MAY in order to remain on the programme. After this date, the registration fee is non-refundable.

Important dates:

24 Feb – Abstract portal opens
28 March – Conference registration opens
1 April – Abstracts due
By 25 April – Notification of acceptances
16 May – Registration deadline for presenters
16 May – Deadline for Early-bird registration
13 June – Full papers due (entries for SNZ, NZEP and SH prizes)

Please address conference enquiries to:

Dr Peter Tait
NZAE Organising Committee
Agribusiness and Economics Research Unit
Lincoln University
PO Box 85084
Lincoln, 7647
Phone: 64 3 423 0384
Email: peter.tait@lincoln.ac.nz

OR

Shelley Haring
Conference Administrator
On-Cue Conferences + Events
54 Montgomery Sq.
PO Box 1193
Nelson, 7040
Phone: 64 3 546 6330 ext. 70
Email: shelley@on-cue.co.nz

2016 NZEP Issue 1 special issue on Economics of Savings

The contents of New Zealand Economic Papers, Volume 50, Issue 1, 2016 (available online or by subscription):

  • Introduction to the special issue by Arthur Grimes & Gail Pacheco
  • Intergenerational developments in household saving behaviour by Mark Vink
  • Retirement income policy and national savings by David Law
  • Pension payments and receipts by New Zealand birth cohorts, 1916–1986 by Andrew Coleman
  • KiwiSaver risk indicators by Henk Berkman, Randall Clement & Annie Zhang
  • Hot property in New Zealand: Empirical evidence of housing bubbles in the metropolitan centres by Ryan Greenaway-McGrevy & Peter C.B. Phillips

Seminars for 2016 including Treasury, RBNZ and universities

A list of seminars at each institution can be found on the pages below.

Students invited to enter for Seamus Hogan Research Prize

The Seamus Hogan Research Prize is a newly-established award to honour the memory of Seamus Hogan (1962-2015). Seamus was President of the New Zealand Association of Economists when he died, after having served several terms on the Association’s Council. Seamus had recently joined the staff of Victoria University of Wellington, and had taught for many years at the University of Canterbury in his native Christchurch. He was highly regarded by his colleagues and students for his teaching, research, and support for the profession and the goals of the Association. It is because of the time and care he took with his many students that the focus of this prize is student research. His obituary can be found in Asymmetric Information, issue 53, August 2015.

The Seamus Hogan Research Prize is awarded for the best public policy paper written by a student and presented at the annual conference. It is for the amount of $1,000.

CONDITIONS OF ENTRY

The prize is for the best paper on a public policy topic written by a student, and it is awarded at the conference. The award is for the written paper, which will be judged according to its clarity of presentation and communication, its critical application of economics to a topic in public policy, and the appropriate selection of empirical and theoretical tools for addressing the policy question at hand.

Entry to the Seamus Hogan Research Prize is open to persons who at the time of the conference are either enrolled in tertiary study in New Zealand or have completed a tertiary degree in New Zealand in the preceding 12 months. There is no residence requirement.

Entrants must be able to attend and present their paper at the NZAE Conference. The presentation may be either an Oral Presentation or Poster Presentation.

Entrants must comply with Conference Registration deadlines as detailed on the conference website.

Co-authored papers are allowed, and the other authors need not meet the eligibility criteria for the award. However, the entrant should have made a substantial contribution to the research.

Authors must comply with all deadlines for submission of Abstracts and Full Papers as detailed on the conference website. Full Papers for the Seamus Hogan Prize may be due before the Conference, to allow sufficient time for judging.

When registering for the conference, please be sure to indicate that you wish to enter the Seamus Hogan Prize.

2015 NZEP Issue 3 includes impact of ageing in NZ

The contents of New Zealand Economic Papers, Volume 49, Issue 3, 2015 (available online or by subscription):

  • The distributional impact of population ageing in New Zealand by Omar A. Aziz, Christopher Ball, John Creedy & Jesse Eedrah
  • The elasticity of taxable income, welfare changes and optimal tax rates by John Creedy
  • Productivity spillovers from foreign direct investment in New Zealand by Tinh Doan, David Maré & Kris Iyer
  • Public–private partnerships for transport infrastructure: Some efficiency risks by Matthew Ryan & Flávio Menezes
  • Safety in the New Zealand sex industry by Laura Meriluoto, Rachel Webb, Annick Masselot, Sussie Morrish & Gillian Abel
  • Citation for Arthur Robson to mark his Distinguished Fellow Award by the New Zealand Association of Economists

December 2015 AI (#54) includes interviews with Creedy and Proctor

Asymmetric Infomation Issue 54

Contents:

  • Editorial
  • An Interview with John Creedy (by Norman Gemmell)
  • The ‘Five Minute Interview’ (Roger Proctor)
  • NZIER Economics Award 2015
  • Blogwatch (by Paul Walker)
  • (Motu) Performance Evaluation of Research Programmes: The Marsden Fund (by Adam Jaffe)
  • (Motu) Cyclical changes in Workforce Skill and Firm Productivity Measures (by David Maré, Dean Hyslop and Richard Fabling)
  • (Stats New Zealand) Development of New Balance Sheets and Financial Flow Accounts (by Lindsay Beck)
  • NEW MEMBERS (Calendar year 2015 to date)
  • Report from GEN
  • Research in Progress (University of Waikato)

Tell us why you might or might not join NZAE

NZAE would like to learn more about why people choose (or not) to be members of NZAE, and what benefits of membership you’d like to see. Here’s a link to a short survey that will help us find out: SurveyMonkey. We’re keen to hear from both members and non-members, so feel free to pass this link on to others as well as filling it in yourself.

18th Central Bank Macroeconomic Modelling Workshop 7-8 Dec 2015

The Reserve Bank of New Zealand will host the 18th Central Bank Macroeconomic Modelling Workshop. The annual series of workshops aims to give policymakers and academics the opportunity to discuss issues related to the class of models used for policy analysis.

This year’s workshop on “Challenges for Open Economies” focuses on the growing real and financial linkages among economies, and their implications for policy analysis. Topics of particular interest include, but are not limited to: exchange rate determination and impacts, the terms of trade and commodity prices, international factor mobility, policy spillovers and the international dimension of inflation dynamics.

The workshop will be held at the InterContinental Hotel in Wellington, New Zealand on 7-8 December 2015.

Keynote Speakers:

Frank Smets, European Central Bank

Giancarlo Corsetti, Cambridge University

5th Auckland Finance Meeting on 17-19 Dec 2015

The Auckland Centre for Financial Research at the Faculty of Business and Law, Auckland University of Technology is hosting its 5th Auckland Finance Meeting on 17-19 December 2015. The main focus will be on empirical/econometric studies in finance. Topics include (but are not limited to): Asset Pricing; Behavioral Finance; Empirical Corporate Finance; Derivative Markets; Financial Econometrics; Financial Markets; International Finance; Market Microstructure; Risk Management; Volatility Models; Banking; etc. The academic part of the meeting will commence in the afternoon of 17 December and finishes in the afternoon of 19 December.

KEYNOTE SPEAKERS:
Prof. Peter Bossaerts – University of Utah, US
Prof. Robert I. Webb – University of Virginia, US

GEN Annual Conference 30 Nov 2015

GEN Annual Conference 2015
“THE NEXT 5 YEARS; POLICY ISSUES AND PRACTICES”

The 2015 GEN Annual Conference will be held on 30 November at the Intercontinental Hotel, Wellington.

The next five years will see important changes in New Zealand. We will continue to get older, we can expect more disruptive technological innovations, global markets will evolve, and major debates around inequality, regulation and the investment approach will likely continue. At this day-long conference, international and domestic experts will outline what some of the most important changes over the next five years could be and how these could affect the knowledge and skills requirements of economists in government in New Zealand.

This will include sessions on:

  • The current state of economic thinking and what this may mean for income transfer policies and regulation
  • New Zealand’s changing demographic profile
  • The changing business outlook
  • Policymaking under uncertainty
  • The investment approach to social policy

The line-up of speakers includes:

  • Hon Bill English; MP, Deputy Prime Minister, Minister of Finance
  • Prof Warwick McKibbon; Director of the Centre for Applied Macroeconomic Analysis Australian National University
  • Sir David Ramsden; Director General UK HM Treasury Chair of UK Government Economic Service
  • Prof Robert Wade; Professor of Political Economy, London School of Economics

NZAE Conference 2016 timeline and keynote speakers

The 2016 Conference will follow the highly regarded 2014 conference held in the Sir Paul Reeves Building at AUT, Mayoral Drive, Auckland. Keynotes speakers include David Teece, James K. Galbraith, John Gibson and Janet Currie.

Key Dates:
Wednesday 24th February.   First notice of conference sent out
Wednesday 24th February.   Portal for abstract submissions opens
Wednesday 23th March.   Final notice of conference sent out
Monday 28th March.   Conference registration opens
Friday 1st April.   Abstracts Due
By Monday 25th April.   Notification of acceptances
Monday 16th May.   Registration deadline for presenters
Monday 16th May.   Deadline for early‐bird registration
Monday 13th June.   Full papers due for entries to prizes
Wednesday 29th June.   Conference start
Friday 1st July.   Conference end

NZAE Speakers 2016

James Galbraith

James K. Galbraith holds the Lloyd M. Bentsen Jr. Chair of Government/Business Relations at the Lyndon B. Johnson School of Public Affairs, the University of Texas at Austin.  His most recent book, The End of Normal, was published in September, 2014 by Free Press. Other books include Inequality and Instability, and What Everyone Needs to Know About Inequality.

He holds degrees from Harvard (A.B., 1974) and Yale (Ph.D. in Economics, 1981) and won a Marshall Scholarship to King’s College, Cambridge.  He has served on the congressional staff, including as Executive Director of the Joint Economic Committee, is chair of Economists for Peace and Security and Senior Scholar at the Levy Economics Institute.

In 2010 he was elected to the Accademia Nazionale dei Lincei.  In 2012, he was President of the Association for Evolutionary Economics.  He is the 2014 co-winner of the Leontief Prize for advancing the frontiers of economic thought.

http://utip.gov.utexas.edu/JG/

David TeeceProfessor David J. Teece is an authority on subjects including the theory of the firm and strategic management, the economics of technological change, knowledge management, technology transfer, and antitrust economics and innovation. He has a Ph.D. in economics from the University of Pennsylvania, has held teaching and research positions at Stanford University and Oxford University, and has also received three honorary doctorates. Dr. Teece has testified before Congress on regulatory policy and competition policy, is author of over 200 books and articles, and is the editor of “Industrial & Corporate Change” (Oxford University Press). According to Science Watch, he is the lead author on the most cited article in economics and business worldwide, 1995–2005. He is also one of the top 10 cited scholars in economics and business for the decade, and has been recognized by Accenture as one of the world’s top 50 business intellectuals.

http://businessinnovation.berkeley.edu/intellectual-capital/research/

John GibsonJohn Gibson is Professor of Economics at the Waikato Management School. A graduate of Lincoln University, John has a doctorate from Stanford University in the United States. His teaching and research interests are in microeconomics and in the micro econometric aspects of development, labour and the international economy. John is currently a Senior Research Associate at the Motu Economic and Public Policy Research Trust. His other research interests include poverty measurement, where he is a member of an expert group advising the United Nations Statistical Division, the design and analysis of household survey data, and economic development, especially in China and other Asian and Pacific economies.

https://www.mngt.waikato.ac.nz/staff%20List/staffhome.asp?user=JKGIBSON

Janet CurrieJanet Currie is the Henry Putnam Professor of Economics and Public Affairs at Princeton University and the Director of Princeton’s Center for Health and Well Being. She is a member of the Institute of Medicine, a fellow of the American Academy of Arts and Sciences, the American Academy of Political and Social Sciences, and the Econometric Society, as well as past Vice President of the American Economic Association and in-coming President of the Society of Labor Economists. She is on the Board of Reviewing Editors of Science magazine and on the editorial board of the Quarterly Journal of Economics.

Her research focuses on the health and well-being of children including early intervention programs, expansions of public health insurance, public housing, and food and nutrition programs. Her current research focuses on socioeconomic differences in child health, environmental threats to children’s health, and the long term effects of poor health in early childhood.

http://www.princeton.edu/~jcurrie/index.html

August 2015 AI (#53) remembers Peter, Allan and Seamus

Asymmetric Information Issue 53 August 2015

Contents:

  • Editorial
  • Obituary: Peter Conway
  • Obituary: Allan Catt

  • Obituary: Seamus Hogan

  • An Interview with John Yeabsley (by David Galt)

  • From the 2B RED File (by Grant Scobie)

  • ‘Frames’ (by Stuart Birks)

  • The ‘Five Minute Interview’ (Rhema Vaithianathan)

  • Blogwatch (by Paul Walker)

  • Fine Lines (by John Creedy)

  • (Motu) The impact of R&D subsidies on innovation by

    New Zealand firms (by Adam Jaffe and Trinh Le)

  • (Stats New Zealand) Improving our understanding of

    labour demand (by Daniel Griffiths)

  • Report from GEN

  • Research in Progress

    (Victoria University of Wellington)

  • The Citation for the A. R. Bergstrom Prize in

    Econometrics

2015 NZEP Issue 2 includes effects of Canterbury earthquakes

The contents of New Zealand Economic Papers, Volume 49, Issue 2, 2015 (available online or by subscription):

  • Asian stock markets, US economic policy uncertainty and US macro-shocks by Michael Donadelli
  • The short-run nationwide macroeconomic effects of the Canterbury earthquakes by Lisa Doyle & Ilan Noy
  • The effects of unemployment rate fluctuations on private health insurance coverage in New Zealand by David Chamberlain & Andrea Kutinova Menclova
  • Monetary policy and interest rates under inflation targeting in Australia and New Zealand by Hakan Berument & Richard T. Froyen
  • Revenue-maximising tax rates and elasticities of taxable income in New Zealand by John Creedy & Norman Gemmell