New Zealand: Selected Issues
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Summary:
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.
Series:
Country Report No. 2008/164
Subject:
Balance of payments Capital inflows Commodities Commodity prices Foreign exchange Prices Production Productivity Real effective exchange rates
English
Publication Date:
May 19, 2008
ISBN/ISSN:
9781451973877/1934-7685
Stock No:
1NZLEA2008002
Pages:
34
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