In this post I am going to discuss how a change in labour force growth can explain firms’ entry/ exit rates. Recent findings by Hopenhayn et al (2018) for the US motivated me to think about this relationship in a NZ context.
Furthermore, the authors linked these entry and exit rates to “dynamism” and therefore productivity growth – a link I wanted to think about a bit more carefully.
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This article was originally posted at Interest.co.nz in 2013. The ideas are timeless 😉
Imagine being able to print your own currency.
Click a button, add a few zeros and voila you’ve increased the money supply.
The Reserve Bank can do it, and, believe it or not in a similar vein so too can Air New Zealand.
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Personal literature review.
Read moreIn a recent response to questions, The Reserve Bank of Australia has listed six options of unconventional monetary policy that is considered in an event of extreme policy implementation. Westpac economists have also talked about potential unconventional monetary policy tools applicable to the NZ case here – this is worth a read, but is a different list!
In this post I would like to outline the RBA’s options and hopefully make them easy to understand.
Read moreRecently I’ve been trying to get my head around the difference between a “sterilized” asset purchase by a central bank and an “unsterilized” purchase. Here is where I’ve gotten to – happy for any comments or clarifications!
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Economic growth is a much bemoaned topic, but what this tweet nicely illustrates is that the type of growth economists often talk about differs from the type of growth that concerns a number of people. Here we’ll briefly consider how we can understand this tweet.
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