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Towards a Practical Cash-Flow Tax (WP 99/01)
WP 99/01. Author: Dieter Katz. There is a wide consensus amongst economists that a cash-flow tax, in concept, is superior to an income tax. The most difficult problem is the transition, which can create either a huge fiscal cost, very large compliance costs or economic dislocation.
Private and Public Returns to Investments in Secondary and Higher Education in New Zealand Over Time: 1981-1996 (WP 99/02)
WP 99/02. Author: Sholeh A Maani. With significant increases in the demand for new skills and participation in higher education in New Zealand since the 1980s, and the introduction of economic reforms toward market liberalisation since the mid 1980s, an examination of income returns to investments in higher education has been of significant interest.
Sovereign Net Worth: An Analytical Framework (WP 99/03)
WP 99/03. Authors: Simon Bradbury, Jim Brumby and David Skilling. The Fiscal Responsibility Act requires the Crown to articulate targets for a series of fiscal variables, including net worth. Given the dramatic improvement in the fiscal position in recent years, a critical policy question relates to how (and which) measures of Crown net worth should be targeted.
Cost and Benefits of Producer Board Deregulation
WP 99/04. Author: Geoff Simmons. This paper considers evidence on whether deregulation of single-buyer Producer Boards is likely to yield net benefits to producers, relevant industries and the New Zealand economy.
Measuring New Zealand's Productivity (WP 99/05)
WP 99/05. Authors: Erwin Diewert and Denis Lawrence. This report was prepared for the Department of Labour, Reserve Bank of New Zealand and Treasury by Dr Denis Lawrence (Tasman Asia Pacific) and Professor Erwin Diewert (University of British Columbia) under contract. The authors examine New Zealand's market sector productivity performance using two databases.
Economic Integration and Monetary Union
WP 99/06. Author: Andrew Coleman. This paper examines the modern literature analysing the costs and benefits of forming a monetary union. It contends that New Zealand should reassess the merits of these arguments, although it does not perform a cost benefit analysis for New Zealand, or even recommend whose currency should be preferred.
Automatic Fiscal Stabilisers (WP 99/07)
WP 99/07. Author: Kerryn Fowlie. This paper looks at the use of automatic fiscal stabilisers, particularly in relation to New Zealand's experience over the past business cycle.
An Integrated Approach to Government Financial Policy (WP 99/08)
WP 99/08. Author: Jeff Huther. In this paper, I address three questions of government financial policy: how should a government's aversion to financial risk be determined, when are new financial investments justified, and what is the optimal level of reserves in a flexible exchange rate regime.
Saving Rates and Portfolio Allocation in New Zealand (WP 99/09)
WP 99/09. Author: Joint Working Group - Government Officials - ISI. This paper explores readily available data up to 1996 on New Zealand's saving rates and the level of savings, and examines the portfolio allocation of savings.
The Privatisation of New Zealand Rail (WP 99/10)
WP 99/10. Author: New Zealand Institute for the Study of Competition and Regulation Inc (ISCR). The methodology for the study involves determining the nature and amount of economic welfare gains and losses resulting from the privatisation of New Zealand Rail, and the incidence among groups in society.
The Structure and Dynamics of Schools and Business: Do they face similar issues? (WP 99/11)
WP 99/11. Authors: Veronica Jacobsen, Alister Hunt and Alex Duncan. The main aims of the report are to: (1) gain a better understanding of key economic forces shaping choices available to schools; (2) build up our practical knowledge of how other organisations deal with the kinds of issues facing schools; and (3) bridge the gap between the view that economics has nothing useful to say about how to organise education and the view that education is just another business and should be treated as such.
Effective Tax Rates on Capital in New Zealand - Changes 1972-1998 (WP 99/12)
WP 99/12. Author: Alowin Moes. Effective tax rates (rather than statutory tax rates) on capital assets can give us an idea of the level of distortion imposed on investment by the tax system.