Formats and related files
I would like to gratefully acknowledge the help of Bob Buckle for comments on an earlier draft. I would also like to thank Arthur Grimes, John Ballingall, Craig Beaumont, Patrick Conway, Khoon Goh, Richard Downing, and Alex Harrington for their helpful comments as well as Kam Szeto and Dean Hyslop for their help with some empirical tests. Finally I would like to thank Daniel Lawrence and Rob Davison for their help with data. Of course all remaining errors are my own.
The views, opinions, findings, and conclusions or recommendations expressed in this Working Paper are strictly those of the author(s). They do not necessarily reflect the views of the New Zealand Treasury. The Treasury takes no responsibility for any errors or omissions in, or for the correctness of, the information contained in these working papers. The paper is presented not as policy, but with a view to inform and stimulate wider debate.
Table of Contents
- 1 Introduction
- 2 Why are the terms of trade important?
- 3 Trends and volatility in New Zealand’s terms of trade
- 4 Why have the trend and volatility changed?
- 5 Factors likely to influence the terms of trade in the future
- 6 Conclusion
- Appendix 1 – Data Description and Source
- Appendix 2 – Decomposing New Zealand’s economic growth