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New Zealand: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2004: Issue 127
Language:
English
Publication Date:
05 May 2004
DOI:
https://doi.org/10.5089/9781451830255.002
ISBN:
9781451830255
ISSN:
1934-7685
Pages:
28
Keywords:
ISCR; CR; monetary policy; fiscal policy action; GDP; discretionary fiscal policy; fiscal policy rule; fiscal policy mechanism; policy credibility; Pension spending; Pensions; Inflation; Marginal effective tax rate; Australia and New Zealand
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This Selected Issues paper conducts a comparative analysis of the main determinants of GDP per capita growth in New Zealand and in other OECD countries to assess the relative importance of macroeconomic factors, institutional settings, and geographical location in New Zealand’s growth performance during the last 30 years. The estimation results find strong support for the view that geographical isolation has significantly hampered growth in New Zealand. The paper also reviews the international experience with prefunding public defined-benefit pension schemes, with a focus on recent reforms in industrial countries—Canada, Ireland, Norway, and Sweden.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund