Sorry, what?
This quote blew my mind: (turns out it came from a release here) “It is based on the notion that increasing supply of houses at any price will somehow bring down prices. This is trickle-down economics at its most dubious.” What.
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Author Archive for: Matt Nolan
Entries by Matt Nolan
Careful claiming “risks” as a justification for banning sales!
Over on Gareth Morgan’s blog there is a piece saying we should look into controls on foreign investment in housing. I disagree with the case. Let’s put the argument here:
Lucas critique and DSGE models
I’ve seen the view that DSGE models fail the Lucas Critique come up a bunch in recent years, and nodded my head in agreement. But I’ve never popped a post down saying it – so this speech by Plosser gives me that opportunity (ht Stephen Williamson). I find it hard to disagree with this statement:
Recommended reading for today
I aim to read the new book “Inequality: A New Zealand Crisis” – I am just deciding whether to start that, read the book by Stiglitz first, or finish my reread of “The Economic World View“. However, I see Bill has started his review over at Groping to Bethleham – I suggest jumping over there […]
Housing xenophobia, again
Update: Seamus discusses the policy here – appropriately focusing on the mechanism through which speculation (and information) impact upon prices. Also here is Shamubeel Eaqub in the Dom Post. The Civilian also posts – oww wait, that’s satire 😛 I see the Labour party has joined the Greens housing xenophobia party, fun fun fun! Obviously, […]
Bleg: What is the paradox?
Hey I have a question to ask. I have been in Melbourne drinking all week at this point (I wrote this prior to the trip) and when I get back I’d like to know what NZ’s “productivity paradox” is. I was not at the conference sadly, but I saw the text of this speech from […]