The intention of this blog is to highlight economists’ work and provide material to support education and general understanding, especially as it relates to economics in New Zealand. It is not a forum for advocacy (other than better use of economics). Posts are categorised as Events, Insights or NZAE News (includes subcategories). Posts are also tagged with the JEL Classification and/or as considered appropriate (see list below). Authors are generally Councillors of the NZAE. Anyone can provide comments. Any views expressed are not necessarily those of the NZAE.
March 2012 NZEP includes critiques of Wolak paper on NZ electricity market
The contents of New Zealand Economic Papers, Volume 46, Issue 1, March 2012 (available online or by subscription):
- A critique of Wolak’s evaluation of the NZ electricity market: Introduction and overview
- A critique of Wolak’s evaluation of the NZ electricity market: The incentive to exercise market power with elastic demand and transmission loss
- An examination of Frank Wolak’s model of market power and its application to the New Zealand electricity market
- Simulating market power in the New Zealand electricity market
- A critique of Wolak’s evaluation of the NZ electricity market: Afterword
- A critique of Wolak’s evaluation of the NZ electricity market afterword: A rejoinder
- Prescriptivism to positivism? The development of the CPI in New Zealand
- Why the shadow of the law is important for economists
- The A.R. Bergstrom Prize in Econometrics, 2012
2012 Conference – Final Call for Papers
Final Call for Papers
53rd New Zealand Association of Economists Annual Conference
To be held at the Palmerston North Convention Centre
27 June – 29 June 2012
Extended period for submission: Abstracts are now due by Wednesday, 4 April
Sir Frank Holmes passes away
Sir Frank Holmes, a distinguished New Zealand economist and one of the founders of the New Zealand Association of Economists and the first editor of New Zealand Economic Papers, passed away on 23 October 2011. Sir Frank is the only person to be elected as both a Life Member and Distinguished Fellow of NZAE. More information on Sir Frank’s contribution to NZAE and the economics profession is available on our Life Members and Distinguished Fellows pages.
His obituary can be found in issue 42 of Asymmetric Information.
USM-AUT International Conference (UAIC) 2012 – Sustainable Economic Development: Policies and Strategies (Nov-12)
UAIC 2012 (November 17th-18th, Malysia) aims to provide an interdisciplinary forum and to discuss the practical challenges in promoting sustainable economic development by providing a platform to share, ideas, experiences and research about all aspects related to it. The theme of the conference is based on three broad themes of Economic Growth and Development, Business and Society and Agriculture & Environment.
See the conference website for more information and to register.
Employment opportunities welcomed
An invitation to all economists and organisations seeking economists to list here employment opportunities for economists in New Zealand.
Applications sought for the tenth A R Bergstrom Prize in Econometrics by 24-Aug-12
Applications are now being sought for the tenth A R Bergstrom Prize in Econometrics.
The objective of the Prize is to reward the achievement of excellence in econometrics, as evidenced by a research paper in any area of econometrics. The Prize is open to New Zealand citizens or permanent residents of New Zealand who, on the closing date of applications, have current or recent (i.e. within two years) student status for a higher degree. It is intended that the awardee will utilise the proceeds to assist in financing further study or research in econometrics in New Zealand or overseas.
The Prize can be awarded once every two years, with its value currently being $2000. The selection committee will consist of Professors P C B Phillips, V B Hall and their nominees.
Applications/nominations must include:
• a formal letter of application and, in the case of students, a letter of nomination by their research adviser or chairperson
• a research paper written by a single author, reporting original research in any area of econometrics
• a CV and relevant academic transcripts
Applications should be emailed or posted by 24 August 2012, to:
Professor V B Hall
School of Economics and Finance
Victoria University of Wellington
P O Box 600 Wellington
NEW ZEALAND
Email: viv.hall@vuw.ac.nz
The Prize is supported by funds generously provided by the following sponsors:
-
Institutional Sponsors
The New Zealand Association of Economists
The School of Business and Economics at the University of Auckland
The Department of Economics at the University of Canterbury
The Faculty of Commerce and Administration at Victoria University of Wellington
Lincoln University
The Economics Group, Commerce Division at Lincoln University
-
Personal Sponsors
C R Wymer
A D Brownlie
R J Bowden
H A Fletcher
R H Court
J A & D E A Giles
Anonymous
V B Hall
D M Emanuel
K B Nowman
P C B Phillips
In addition, royalties from the Festschrift Volume Models, Methods and Applications of Econometrics: Essays in Honour of A.R. Bergstrom, P.C.B. Phillips (ed.) Blackwell, Cambridge MA and Oxford UK, 1993, and from A Continuous Time Econometric Model of the United Kingdom with Stochastic Trends, by Albert Rex Bergstrom and Khalid Ben Nowman, Cambridge University Press, 2007, are applied to support the prize.
March 2012 AI now available online
December 2011 NZEP available now
The contents of New Zealand Economic Papers, Volume 45, Issue 3, December 2011 (available online or by subscription):
- Monetary policy implementation and uncovered interest parity: Empirical evidence from Oceania
- The effects of weather on crime
- The fixed price offer mechanism in Trade Me online auctions
- A quarterly post-Second World War real GDP series for New Zealand
- Changes in the tax mix from income taxation to GST: Revenue and redistribution
- Price discrimination in Australasian air travel markets
August 2011 AI online, December in the post
The August 2011 Issue 41 of Asymmetric Information is now available online here. The December 2011 Issue is in the post to members. Continue reading
Auckland – Senior Economist
Our client is a leading financial services institution that is looking to appoint a Senior Economist into their Auckland office. The successful candidate is likely to have relevant economic research, analysis and modelling management experience. You will have a tertiary qualification in economics. An excellent compensation package will be tailored to attract candidates of the highest calibre. To register your interest please submit your resume to richard@alexanderjames.co.nz or contact Richard Webb on (09) 302 5892.
April 2011 AI online, August in the post
The April 2011 Issue of Asymmetric Information is now available online. The August 2011 Issue is in the post to members. Continue reading
9th A R Bergstrom Prize in Econometrics to David Baqaee
The 2010 A R Bergstrom Prize in Econometrics has been awarded to David Baqaee, PhD student, Harvard University, for his paper ”Using Wavelets to Measure Core Inflation: the Case of New Zealand”. David’s paper was completed while employed as an Economic Analyst at the Reserve Bank of New Zealand.
The future is now
Reply
It is a truism that Western economies face a demographic problem: more older people and fewer working-age people will mean a higher dependency ratio. This future problem, we are told, requires action now, Now, NOW! We must prepare for the future by raising the retirement age and reducing superannuation payments.
Except that the future is already here, and no one has pushed the panic button. Continue reading
What’s this ‘we’ stuff?
Alex Tabarrok posted at Marginal Revolution about sticky wages. It’s an interesting bit of mathematics. I can see his point, that sticky wages for employed people can keep the labour market from adjusting. Because the unemployed are a minority of the labour force, even large reductions in the wages they are willing to accept have a small impact on the total wage bill.
My reaction to this bit
If all employed workers accepted a 5% pay cut (or if the government ordered such a cut) and the Fed kept targeting inflation, we’d experience rapid economic growth.
was, ‘What’s this “we” stuff?’. Continue reading
Models matter
I’ve been turning this over in my head for weeks. Obviously, the economic/political problems in the US are one of biggest economic issues going, and I’ve not blogged about them. Part of the reason I haven’t is that it is very difficult to separate the political from the economic. Continue reading
Inchworm, inchworm, measuring the marigolds
NZIER (where I work) has just published a new Insight on the next steps for water policy. The Royal Society recently published an issues paper on ecosystem services. Natural capital and the value it creates for the economy is clearly topical. Continue reading
Double taxation doublespeak
I generally stay out of tax debates. I don’t know the economic theories, and valid comparisons are difficult to make.
This comparison by Rodney Hide (via Kiwiblog) bothered me, however:
A business generates $100 a year. The going discount rate is 10 percent. The value of the business is $1,000. That’s if there’s no tax.
Introduce a tax of, say, 30 percent, and the business now yields only $70 a year. The business is worth only $700. The tax liability is capitalised into the value of the business. Continue reading
Conference 2012 dates set
The 53rd Annual Conference will be held at the Convention Centre in Palmerston North on 27-29th June 2012 more
Conference 2011 papers available
The 52nd Annual Conference was successfully held at the Amora Hotel in Wellington on 29th June to 1st July 2011. Details, including copies of papers, can be found at Conference 2011
Jan Whitwell prize awarded to Alex Olssen
The Jan Whitwell prize was awarded to Alex Olssen at the NZAE 2011 Conference.