Research Monographs

Research Monographs may be purchased by sending an email request to econ@nzier.org.nz. Members receive a 50% discount on prices. Abstracts of each Research Monograph may be viewed by clicking on the link provided.

No 70: Ka Awatea Tuarua: An Implementation of the New Dawn

By Ralph Lattimore, Ian Duncan, Keith Ikin, Preston Davies, John Ballingall and John Yeablsey, 2003.

The cost is $22.50 plus gst for the printed publication, please purchase by sending an email request to econ@nzier.org.nz or click here to download the monograph for free.

An institution based in Te Awamutu, has grown over the last 20 years to become one of the largest, and arguably one of the most important, tertiary training establishments in New Zealand. Te Wananga o Aotearoa (TWOA, literally, University of New Zealand) has grown from 1000 students five years ago to around 60,000 domestic students today. This wananga alone is responsible for virtually all the increase in domestic tertiary enrolments in New Zealandover that period. TWOA focuses heavily on second chance education through work skills, Maori language and computing courses for isolated people. Many of its students come from disadvantaged backgrounds in more remote areas.The wananga is a modern Maori, multi-campus institution that operates nation wide using innovative marketing, pricing and teaching technology. This monograph presents the results of a preliminary assessment of the cultural, social and economic impacts that the wananga is having in New Zealand and abroad.

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No 69: Looking at the numbers: a view of New Zealand's economic history

By Phil Briggs, 2003, $20.00 plus gst. [print edition]

Updated August 2007 by Peter Bailey in electronic form only - free to download.

"Looking at the numbers: a view of New Zealand’s economic history", was initially intended to be notes for an introductory course on New Zealand’s economic history. It presents economic data series that go back as far back as possible. Most of the data is presented as long-run charts. The study begins with an overview, chopping New Zealand’s economy history into six periods: Maori settlement, early European colonisation, the rise of farming, war and depression, the long expansion, and dropping off the OECD pace. The study then turns to the data, beginning with population before moving on to major elements of the macroeconomy: GDP, prices, exports and imports, and the labour market. Aspects of the government’s operations are examined and the monograph finishes with a look to the future.

Looking at the numbers : a view of New Zealand's economic history(text updated 2007)

Looking at the numbers All data updated 2007(zipped file)

The History of the New Zealand economyis now available as a free course from Change Training www.change.co.nz. You can enrol on the course here.
Change Training and NZIER hope this course will encourage a greater understanding of New Zealand's economic issues and trends.

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No 68: New Zealand's trade policy odyssey: Ottawa, via Marrakech and on

By Chris Nixon and John Yeabsley. 2003, $18.00

New Zealand's ability to create wealth as a trading nation has always depended on the rules of the international trading game. In this study, John Yeabsley and Chris Nixon examine New Zealand's previous international negotiation successes and future prospects.

The authors take an analytical approach, but base their views squarely in the careful investigation of how the theory applies to five historial episodes: the 1932 Ottawa Conference, Britain’s accession into the EEC, the trans-Tasman relationship, the Uruguay Round of GATT, and the APEC process. They show that New Zealand has always been a small player and our successes have stemmed from a conscious ability to be opportunistic and flexible. The increasing importance of a domestic trade policy also comes through.

This book is an engaging study of a little documented but vital area of local public administration that reveals an ongoing struggle by New Zealand representatives to achieve a sensible international trading environment.

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No 67: Global player? Benchmarking New Zealand's competitive upgrade

Edited by John Yeabsley. 2001, $39.95

The essays in Global player? provide an analysis of the New Zealand business and economic situation in 1998 and cover various aspects of the competitive challenge facing New Zealand. Topics include: strategic development in New Zealand firms, multinational enterprise, company strategy, business clustering and networking. technology and innovation, human resources, and competitiveness under light-handed regulation. The picture that emerges is one that shows progress on a variety of fronts, but still classifies New Zealand as an underachiever that 'can try harder'.

The papers, by a diverse group of New Zealand academics, were written as briefing papers for Professor Michael Porter's 1998 follow-up visit to New Zealand.

The contributors include Michèle Akoorie, Colin Campbell-Hunt, Wayne Cartwright, Lawrence Corbett, Sally Davenport, Mark Domney, Peter Enderwick, Lewis Evans, Nigel Haworth, Val Lindsay, Ken Morse, Michael Porter and John Yeabsley.

This book continues a sequence of research monographs published by NZIER on the state of New Zealand's corporate management. Previous volumes in the series include Islands of excellence? (1993, out of print) and A season of excellence (1996).

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No 66: Full employment: whence it came & where it went

by Simon Chapple. 1996, $36.00

One of the most noteworthy features of the post-war New Zealand economy was the low unemployment rate, averaging below two percent, from the end of the Second World War until the early 1980s. However, from about 1980 onwards unemployment rose markedly, peaking at around 11 percent in 1992, but falling back to around six percent by the mid-1990s.

This monograph examines the theories of unemployment and inflation which could potentially explain New Zealand’s post-war unemployment experience. It also considers explanations employed by New Zealand economists to understand the unemployment pattern described above. The various explanations are examined in the context of their predictions regarding the empirical record. Explanations which put the observed pattern of the unemployment rate down to various forms of structural change are rejected, while explanations which are based on aggregate demand shocks have greater empirical support.

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No 65: A season of excellence? An overview of New Zealand enterprise in the nineties

by Colin Campbell-Hunt and Lawrence M Corbett. 1996, $33.75

This is a follow up to the earlier Islands of excellence , published by the Institute. The aim is to cover the story of adjustment by New Zealand enterprise management to the restructuring of the economy and the move to a more open trading environment, since the previous volume. Its method is to consider two basic models, the one developed in the earlier work and another based on recent theory. These are used as framework to consider the available empirical research and produce conclusions. These include the important findings that the type of management adjustment going on has altered mirroring the requirements of the situation, and that this process is continuing.

It is a longer book than the previous work, allowing more space for the material surveyed to be summarised.

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No 64: Wellsprings of enterprise : an analysis of entrepreneurship and public policy in New Zealand,

by David Harper. 1994, $25.00

This report is of particular relevance in light of recent developments in the political debate in New Zealand. Ways of thinking are emerging that are potentially detrimental to entrepreneurship. In particular, there is a widespread assumption that no new initiatives are needed to encourage entrepreneurship in this country because all barriers to enterprise have been removed. The report argues that if New Zealand is to capture the benefits of recent policy initiatives, it must maintain and enhance the emergent entrepreneurial drive within the economy.

The approach taken is derived from recent developments in economics - especially new theories of entrepreneurship and of market processes, psychological economics and the economics of business culture. The focus of the project is upon the application of these approaches to New Zealand.

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No 63: Tourism investment in New Zealand : opportunities and constraints,

by Ian Duncan and Douglas James, with Stephen Hamilton and Terry Ngan. 1994, $25.00

Investment decisions play a large part in realising the potential for tourism industry growth, encompassing not just increasing visitor numbers, but also satisfactory returns to investors.

This report examines past experience with tourism investment in New Zealand, and then analyses prospects for three main categories of investment - accommodation, transport and tourism attractions - with the most extensive analysis for the first of these. Investment prospects are considered partly in terms of a theoretical framework and partly on the basis of views provided by a range of current investors in tourism.

The section on accommodation models likely future hotel investment, in the main gateway and resort centres, on the basis of likely links between visitor growth and occupancy rates, and in turn the impact of these on the timing of investment. This section was contributed by Stephen Hamilton and Terry Ngan of Ernst and Young's Tourism and Leisure Consulting Group.

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No 62: Teaming-up : a study of Japanese-affiliated firms in New Zealand,

by David A Harper. 1994, $25.00

Improvements in a firm's productivity, product reliability, employee motivation, and adaptability are some of the benefits evident from the use of Japanese management techniques in New Zealand firms.

As well as investigating the extent and effects of such techniques in a sample of Japanese-affiliated firms in New Zealand, this study provides valuable insight into the Japanese way of managing and organising business, and into the business relationship between Japanese firms and their New Zealand counterparts.

The report is of particular relevance to managers and policy-makers, with its focus on management practices which allow firms to be responsive and innovative in the face of competition, technological developments and changing market circumstances.

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No 61: Business dynamics in New Zealand 1987-1991: entry growth and decline in the business sector,

by Gerard Malcolm. 1993, $25.00

This study uses a comprehensive business database to present various aspects of the dynamic movements in New Zealand business population and to investigate the relationships between them. The results are disaggregated by business size, by industry and by region.

During the period studied (between 1987 and 1991), firms were responding to the deregulatory policy changes introduced by the fourth Labour Government, and the results were compared with an earlier study over the period immediately prior to deregulation (from 1980 to 1984).

The study is a part of the Institute's ongoing research programme into the dynamics of structural adjustment. This project relates particularly to another Foundation-funded project which is currently underway, on the determinants of fast growth in New Zealand firms.

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No 60: Labour force dynamics in New Zealand

by David Grimmond. 1993, $25.00

This monograph documents the extraction of a database of disaggregated labour force dynamics in New Zealand and undertakes a preliminary analysis of this database. The focus is on flows in and out of unemployment. The monograph seeks to discover whether there is any relationship between the length of unemployment spells and the ability to leave unemployment and whether sectors of society can be identified. The results presented are not claimed to be definitive but will hopefully increase readers' understanding of New Zealand labour market behaviour and stimulate future research.

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No 59: Islands of excellence? A study of management in New Zealand

by Colin Campbell-Hunt and David A Harper with Robert T Hamilton. 1993, out of print

Towards the end of 1992 the Ministry of Commerce commissioned a report on the capacity of New Zealand managers to lead the process of rebuilding the economy along more competitive lines.

The study spans every aspect of management practice: business and competitive strategy; marketing, operations, technology, information, HR and IR strategies; managerial skills and styles of management. The authors conclude that while much management practice has yet to break out of survival mode, some firms have undertaken the radical re-orientation to their strategies and styles of management required to sustain competitiveness in a more dynamic environment - an experience overseas researchers call a "sharpbend". They offer a view on what is involved in this process of strategic change, how widespread the change has been to date, and what challenges lie ahead.

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No 58: A promise to pay : New Zealand's overseas debt and country risk,

by Pat Colgate and Joselyn Stroombergen. 1993, $25.00

This report looks at New Zealand's overseas debt burden from the perspective of an international investor. The report includes the most comprehensive statistics available on New Zealand's country risk, and provides another perspective on the debt problem by putting New Zealand in the context of six similar indebted countries.

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No 57: Dismantling the barriers : tariff policy in New Zealand

by Ian Duncan, Ralph Lattimore and Alan Bollard 1992, $25.00

This monograph examines the political economy of the latest set of tariff policy decisions, as announced in the September quarter 1991, in the context of the history of protectionism in New Zealand. It explores some of the core theoretical issues underlying the debate on tariff policy, and empirical analysis undertaken here and elsewhere used to assess the costs and benefits of tariffs.

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No 56: Surviving the change : how firms adjusted to the new environment,

by David Harper and Gerard Malcolm. 1991, $25.00

The results of a 1991 survey of firms' responses to the changing policy environment are set out and analysed. The monograph is based on work commissioned by the Treasury and Ministry of Commerce, and covers responses from 107 firms in ten manufacturing and service industries.

This book will be of interest to shareholders, analysts, economists, business teachers, and company managers.

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No 55: The incidence and motivations of mergers in New Zealand,

by John Feil. 1990, $25.00

This work surveys New Zealand business mergers from 1960 to 1989. It shows the different types of mergers that took place. It surveys managers to find out why takeovers were carried out. Generally they were to increase shareholder returns, company growth and profit, usually for valid reasons.

Merger activity grew until 1987, then fell off considerably with the stock market crash.

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No 54: What firms say about structural adjustment,

by Mark Baird and John Savage, with Anna Petherick. 1990, $25.00

While economists frequently talk about the impact on the economy generally of "deregulation, not a great deal has been said about what happens to individual businesses. this monograph is based on a firm-level survey of over 100 companies and reports on the range of strategies they have employed in responding to economic reform. It reveals some major changes in the way firms do business in New Zealand.

For example, they have become more responsive to consumers in terms of product selection, quality and price. Competitive pressures have also forced to pay much more attention to issues of productivity and internal efficiency. The survey reports on these issues as well as many others and looks at differences in behaviour between various industries, size of firm, and location.

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No 53: Trade liberalisation and the New Zealand labour market

by Kevin Lang. 1989, $19.95

For most of the last 50 years, New Zealand has had a comprehensive system of industry protection in the form of both import licensing and tariffs. A major justification for trade protection was the promotion of employment. This study examines the impact of the recent programme of trade liberalisation on the New Zealand labour market. It reveals that protection is a very expensive way of creating a few additional jobs. Further, protection tends to be concentrated in low wage industries : this is contrary to contemporary trade theory, which argues that, if there is to be assistance, it should be used to promote employment in high wage industries.

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No 52: Economics of the Commerce Act,

by Alan Bollard (Editor) 1989, $20.45

In this monograph 10 economists examine various economic issues that have arisen from New Zealand's Commerce Act. This includes studies of certain cases, investigation of key concepts, and discussion of various trade practices. The authors are a range of New Zealand, Australian and United States academics and practitioners.

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No 51: Market dominance and anticompetitive effect under New Zealand's merger policy,

by D F Greer. 1989, $19.95

This monograph looks at the idea of market dominance in the context of New Zealand's Commerce Act. Dominance may occur when a large firm uses its market power, or when several firms collude together. Thus it can limit competition. This monograph looks at market dominance in New Zealand, and how it should be treated.

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No 50: The private residential rental market in New Zealand,

by John Savage, Susie Kerr and Stephen Toplis. 1989, $20.45

This report provides, for the first time, a comprehensive review of the private rental housing market in New Zealand. It examines tenant and landlord profiles and identifies recent developments in the rental market and discusses policy issues.

This research reveals that in terms of capital gain, rental property has not been a particularly good investment in recent years, when compared with alternative investments. Both shares and commercial property have usually given better returns, during the 1980s.

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No 49: Price setting and deregulation: the flour milling & petrol wholesaling industries,

by Richard A Miller. 1989, $15.35

This is a study of pricing in two industries from which price regulations have recently been removed: flour milling and petrol wholesaling. Until recently business people in the New Zealand economic environment have had little experience managing in deregulated markets. This is a study of how two industries have adapted, and in particular how they set prices after the end of price control.

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No 48: Productivity trends and cycles in New Zealand : a sectoral cyclical analysis 1961-1987,

by Adrian Orr. 1989, $15.35

This monograph provides estimates of sectoral productivity growth rates over recent years for the New Zealand economy, along with plausible projections of future productivity movements. Whilst doing this it also contributes to the analysis of the determinants of productivity changes. It achieves this via firstly surveying recent international literature on productivity movements combined with past NZ analyses. This incorporates a comparative analysis of OECD and NZ productivity movements over the past two decades.

The report also makes inroads into the effects of disinflation on productivity movements. Importantly, it highlights the direction of causality between inflation and productivity runs from inflation. This emphasises the importance of a low and stable inflation rate ensuring productivity and hence economic growth.

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No 47: Efficiency and competition : alternative, complementary or conflicting objectives,

by Douglas F Greer 1989, Out of print

Should competition policy aim to enhance competition or promote efficiency? There has been considerable recent debate about this question. In this monograph the author, a US antitrust expert, examines just what competition means and what efficiency means pointing out when the two conflict.

On balance the author argues that maintaining competition is the more important objective; that is because it generally implies standards of static efficiency, innovative efficiency, consumer welfare, fairness and political decentralisation. In addition it is much easier to comply with in a boardroom or enforce in a court room. Thus on balance, the author says that competition is the more attractive objective for policy to aim for.

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No 46: Productivity and quality in New Zealand firms : effects of deregulation,

by Colin Campbell-Hunt, Alan Bollard, John Savage 1989, $15.35

This monograph examines the way regulatory change has hit firms in New Zealand, and strategies that these firms are using to react and survive in a more competitive environment.

It found that deregulation has directly or indirectly affected most of the firms interviewed, and improve attention to quality and productivity was one way they had addressed this. In the last 5 years both have made contributions to their profits above any other source of profit and they were expected to increase in importance in the next 5 years.

There are many ways to address these main objectives. What seems most important are developments of a firm-wide quality "culture", staff training, and improved management and information systems. More major changes, like relocating firms, changing their structure, and redesigning the product were found to be much less common.

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No 45: Internal labour markets : labour adjustment within firms,

by John Savage. 1989, $15.35

Labour market flexibility is a frequently commented on, but poorly understood issue. It is as much about labour changes within firms as it is about economy-wide flexibility. This is one of the major points made by the study. The report emphasises firm level responses to changing circumstances rather than the more common concern with employment and wage shifts between firms and industries.

During a downturn it is usual to see workers resisting income cuts. But why, when times are tough, are firms also often reluctant to reduce wages or conditions? Simply because it may not be in their best interest to do that. In reviewing overseas research, the study shows that these moves are likely to have bad effects on morale resulting in lower productivity. They may also result in the loss of workers with valuable skills in which the firm has invested.

It is more common to observe other sorts of changes. These include reduced recruitment rates, transfers to maintenance, reductions in sub-contracting and the redesigning of jobs, these eventually reduce wage costs, but in a less direct way.

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No 44: Financial deregulation and disinflation in a small open economy: the New Zealand experience

by Nicola Hunn, David Mayes, Neil Williams and Stan Vandersyp. 1989.

This monograph explores some of the implications of the key elements of the early policy moves of the 1984 Labour Government.

The contribution to monetary control of a floating exchange rate in a deregulated financial environment is controversial. Critics of the float focus on international competitiveness. This ignores other issues: the extent to which a floating exchange rate can aid disinflationary process and the evolution of structural change, which requires relative price changes. Liberalisation of the capital account may also play an important role since freeing up of capital flows should considerably aid the financing of structural change.

The main concern is how the nominal exchange rate affects profitability. This depends upon, inter alia, the relative importance of exports and direct imports in the industry revenue and cost structure as well as their sources and destinations.

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No 43: Issues in oil sector deregulation,

by Peter Clough, Alan Bollard, Eric Assendelft and John Culy. 1989, $15.35

This monograph details the principal characteristics of the regulated petrol distribution industry prior to May 1988, with its licensing of retailers and wholesalers, control over prices and margins and prohibition of wholesaler involvement in retailing. The effects of these regulatory provisions on the distribution industry's structure, conduct and performance are analysed as a basis for prediction changes likely to result from their removal.

The monograph considers the role of the Commerce Act in ensuring competitive behaviour through its jurisdiction over mergers and takeovers, pricing arrangements, collusion and supply conditions. It also discusses market monitoring methods which would enable the success of deregulation to be assessed and alert the government of any problems which emerge and are not covered by existing regulation.

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No 42: The influence of American economics on New Zealand thinking and policy,

with contributions from Alan Bollard, Richard Miller, Douglas Greer, Brian Easton, Lewis Evans, Ewen McCann and Suzanne Snively. 1988, out of print

The papers in this volume present surveys of developments in a number of areas of economics in the United States,thoughts on how those ideas have been transmitted to New Zealand and the extent of their adaptation and implementation here. This publication is based on papers originally presented at the Fulbright Seminar: The Influence of American Economics on New Zealand thinking and Policy.

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No 41: Financial centre prospects for New Zealand

by John Savage. 1988, $15.35

This study examines the prospects of New Zealand developing into an international financial centre following the extensive deregulation of the financial services sector and the increasing internationalisation of New Zealand's capital markets. Key factors which determine financial centre development are identified and then examined from the New Zealand perspective.

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No 40: The diffusion of microelectronics through New Zealand manufacturing,

by Alan Bollard and R Bowie. 1987, $15.35

This study examines the impact of microelectronics technology on manufacturing and in particular looks at the extent of current and prospective applications, patterns of diffusion, advantages and disadvantages, funding, procurement and training. It also investigates the effect on jobs, labour, productivity, profitability and competitiveness.

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No 39: Research and development in New Zealand : a public policy framework,

by Alan Bollard, D Harper and M Theron. 1987, $15.35

This study sets up a framework for public policy approach to R & D in order to provide policy makers with a way to think about appropriate policy responses to R & D. It discusses traditional and new approaches to public policy, the economics of R & D transactions and a new classification of policy tools and interventions.

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No 38: Trans-Tasman trade and investment,

Editors: Alan Bollard and M A Thompson. 1987, $15.35

This joint study by the NZIER and Institute of Policy Studies explores in depth the implications of the CER Agreement for investment and for intra-industry study and in particular it looks at trade flows, foreign direct investment, location of production and degree of specialisation.

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No 37: Price setting and the Commerce Act,

by R Miller with J Ayto, R Bowie and D Harper. 1987, $15.35

This study examines the possible effects of the Commerce Act, 1986 price-fixing, with case studies of the cement, brewing, stockbroking services and real estate industries.

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No 36: Business opinion in New Zealand : The NZIER Survey,

Editors: R Bowie and B Easton. 1987, $15.35

This study reviews the NZIER Quarterly Survey of Business Opinion , one of the longest running and most comprehensive quarterly data bases on the New Zealand economy; it contains a number of articles interpreting the use of business opinion surveys.

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No 35: The Financial services industry : effects of regulatory reform,

by D Harper. 1986, out of print

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No 34: New Zealand distributive trades : pricing, regulations and structural change,

by J Ayto and Alan Bollard,.1987, $15.35

This study outlines the structure of the distributive sector in New Zealand, pricing practices, relevant Government regulation, technological change and changes in these.

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No 33: Economy wide models of New Zealand

by G Wells and B Easton. 1986, $15.35

This study reviews economy wide models in New Zealand, describing and critically evaluating their characteristics and is oriented towards those who wish to use the models or use the output of the models.

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No 32: The New Zealand motor car industry after the Plan

by D Witt. 1986, $15.35

This study is an analysis of the New Zealand motor car industry after the introduction of the Government's Motor Vehicle Industry Plan of 1984. It focuses on the effects, impact and consequences associated with the relaxation of long-term trade barriers now allowing far freer and less costly access to imports.

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No 31: Markets, regulation and pricing

Editors: Alan Bollard and B Easton. 1985, $15.35

This study looks at six markets in New Zealand and investigates how prices are determined in relation to market structure, the degree of competition which firms face and the effects of changes in Government regulation.

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No 30: Closer Economic Relations : a view from both sides of the Tasman,

by Alan Bollard, D McCormack with M Scanlon. 1985, $15.35

This is a joint NZIER/CEDA integrated study between researchers on both sides of the Tasman which assesses the prospects for change flowing from the Closer Economic Relations Policy (CER). The text is current up to 1 July 1985, which is the midway point between the signing of CER and the 1988 review year.

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No 29: Studies in the labour market

Editor: B Easton. 1983, $15.35

This study rebuilds the foundations of our understanding of the labour market following the dramatic changes which occurred in the 1970s with social change altering the labour supply and rising registered unemployment indicating a growing gap between supply and demand.

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No 28: Income distribution in New Zealand

by B Easton. 1983, $15.35

This study provides a foundation for the investigation of household income distribution and policy issues and some insight into the broader economic and social processes of post-war New Zealand. It is intended to be a reference for social scientists who wish to use income data in their investigation.

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