Stylised facts for New Zealand business cycles: A post-1987
perspective

dc.contributor.author	McKelvie, S.
dc.contributor.author	Hall, Viv B.
dc.date.accessioned	2012-08-01T02:41:42Z
dc.date.available	2012-08-01T02:41:42Z
dc.date.copyright	2012
dc.date.issued	2012
dc.identifier.uri	http://hdl.handle.net/10063/2364
dc.description.abstract	Key features of NZ business cycles were established for the period 1966q4 to 1990q1 by Kim, Buckle and Hall (1994) (KBH), but the conduct of fiscal, monetary and labour market policy and the behaviour of New Zealand's economy have changed considerably since then. Our results for the period 1987q2 to 2010q4 show a reduction in volatility and a rise in persistence for both the real economy and for price and monetary variables. Government sector, open economy, monetary and labour market results differ from those advanced in KBH. Overall, we establish a more credible set of benchmark regularities, to help underpin the construction and use of contemporary NZ macroeconomic models.	en_NZ
dc.language.iso	en_NZ
dc.relation.ispartofseries	SEF Working Paper Series	en_NZ
dc.subject	Business cycle stylised facts	en_NZ
dc.subject	New Zealand	en_NZ
dc.subject	Growth cycle analysis	en_NZ
dc.title	Stylised facts for New Zealand business cycles: A post-1987 perspective	en_NZ
dc.type	Text	en_NZ
vuwschema.contributor.unit	School of Economics and Finance	en_NZ
vuwschema.subject.marsden	149999 Economics not elsewhere specified	en_NZ
vuwschema.type.vuw	Working or Occasional Paper	en_NZ
dc.rights.rightsholder	www.vuw.ac.nz/sef	en_NZ