Special Topic - Medium-term outlook for dairy exports Summary Dairy production has flattened in recent years and future growth will be limited by emissions-reduction targets. Continued growth in...
Special Topic - Commodity Update Russia’s invasion of Ukraine has worsened strains in global supply chains and caused significant increases in the prices of many commodities, particularly those...
We are on the road to developing the Treasury’s first Wellbeing Report. The first stops along the way have been the refresh of the Living Standards Framework (LSF) Dashboard and the publication of the...
Special Topic - Inflation and fiscal policy Inflation has increased sharply and is becoming persistent. Monetary policy is the primary tool for addressing inflation, but fiscal policy can play a...
Special Topic - Omicron Outbreak The Treasury’s initial assessment of the economic impacts of an Omicron outbreak is a transitory hit of between 1.5%-2% of GDP across the first quarter, reducing...
Special topic: The economic impacts of global supply chain disruption Strong demand for goods in the wake of the COVID-19 pandemic has driven up freight costs, boosting consumer price inflation and...
Treasury staff recently presented a small selection of the empirical work taking place in the organisation at the recent annual New Zealand Association of Economists (NZAE) conference. This blog summarises the presentations and draws out key themes from their work.
In a low interest rate environment, central banks are often constrained by the Zero Lower Bound so fiscal policy has become more important, and since the global financial crisis, the effects of fiscal...
The New Zealand Superannuation Fund (NZSF) is one of New Zealand’s largest publicly-owned financial assets. Established by the government in 2001, its primary purpose is to provide a means of tax...
Budget 2021 capped a particularly busy forecasting and fiscal reporting year for the Treasury – one punctuated by September’s Pre-Election Economic and Fiscal Update (PREFU), which in election years is sandwiched between May’s Budget Economic and Fiscal Update (BEFU) and the Half Year Economic and Fiscal Update (HYEFU), usually released in December.