New Zealand : Selected Issues.

This paper assesses the impact of a disruption to capital inflows by examining past episodes of capital inflows in New Zealand and other countries. It also reviews the IMF's Global Economy Model (GEM), which is used to provide some estimates of the equilibrium relationship between New Zealand&#...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2008.
Series:IMF Staff Country Reports; Country Report ; No. 2008/164
Online Access:Full text available on IMF
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520 3 |a This paper assesses the impact of a disruption to capital inflows by examining past episodes of capital inflows in New Zealand and other countries. It also reviews the IMF's Global Economy Model (GEM), which is used to provide some estimates of the equilibrium relationship between New Zealand's real effective exchange rate and real commodity prices. The analysis also suggests that permanent changes in non-energy commodity prices can have a significant impact on New Zealand's equilibrium exchange rate. 
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