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Acknowledgements
I would like to thank Richard Downing, Iris Claus, Tim Hampton, Satish Ranchhod and John Creedy for useful discussions and comments.
Disclaimer
The views expressed in this Working Paper are those of the author(s) and do not necessarily reflect the views of the New Zealand Treasury. The paper is presented not as policy, but with a view to inform and stimulate wider debate.
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Last updated:
Wednesday, 24 October 2007