Back to top anchor
Working paper

Capital Shallowness: A Problem for New Zealand? (WP 05/05)

Issue date: 
Wednesday, 1 June 2005
View point: 
Publication category: 
JEL classification: 
E23 - Macroeconomics: Production
E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
E44 - Financial Markets and the Macroeconomy
O49 - Economic Growth and Aggregate Productivity: Other

Formats and related files

This paper explores the extent to which a lower level of capital per hour worked (or lower capital intensity) is associated with less output per hour worked in New Zealand.


The authors are especially grateful to Bob Buckle for helpful suggestions on testing for the possibility that the response parameters might change over time, and to participants in a Treasury workshop for challenging questions.


This document was commissioned by the New Zealand Treasury. However, the views, opinions, findings and conclusions or recommendations expressed in it are strictly those of the authors, do not necessarily represent and should not be reported as those of the New Zealand Treasury. The New Zealand Treasury takes no responsibility for any errors, omissions in, or for the correctness of, the information contained in this Paper.

Last updated: 
Tuesday, 23 October 2007