Translating central bank speak
Am I the only one who spends a lot of time trying to translate RBNZ communication into English? Below is a quick take in 200 fewer words what I think the key messages are from the October OCR announcement:
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Author Archive for: Shamubeel
Entries by Shamubeel Eaqub
Inequality is natural
The moot in a debate organised and run by VILP (Victoria International Leadership Programme) students on 15 October 2013 was: “Is inequality natural?” I was on the affirmative team with Harry Berger and Even Bain, two smart and articulate Victoria students. We won the debate 49-43. Once you adjust for the home ground advantage to […]
LVR speed limits are here
RBNZ restrictions on high loan to value ratio (LVR) mortgages came into effect on 1 October 2013. They are already biting – with ASB pulling its high LVR approvals. By definition, the new rules will reduce high LVR borrowing growth, but not necessarily total borrowing (because banks are now incentivised to lend ‘traditional’ mortgages). The […]
Benefits of events, before and after the fact
Team NZ sadly didn’t win the America’s Cup. It would have been a good party in Auckland if we had. Just like the RWC was. With more than a little hubris, there were numerous media stories on the economic benefits of winning and hosting the America’s cup. Now it appears it was too early. In […]
Excitement over broken windows
Oliver Hartwich of the NZ Initiative revisits the broken window fallacy: “Natural disasters and wars never generate prosperity. They always destroy it, by definition.” He is absolutely right. It’s good to see this revisited. Even though the “seen benefits, unseen costs” principle was articulated by Bastiat in an 1850 essay. Wikipedia article on the broken […]
The ‘gummint’ should do something!
In an excellent article Deborah Coddington wrote: “…encouraging voters to look to gummint for the good life is a futile exercise. No one in their right mind would willingly assign their choice of car, design of house, style of dress, or gardening habits to their local MP. To preserve the New Zealand Quality of Life, […]