New Zealand [electronic resource] : Selected Issues.
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TextSeries: IMF Staff Country Reports; Country Report ; No. 08/164Publication details: Washington, D.C. : International Monetary Fund, 2008Description: 1 online resource (34 p.)ISBN: 145197387X :ISSN: 1934-7685Subject(s): Capital Flows | Capital Inflow | Capital Inflows | Current Account | External Debt | New ZealandAdditional physical formats: Print Version:: New Zealand : Selected IssuesOnline resources: IMF e-Library | IMF Book Store Abstract: 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.
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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