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dc.contributor.authorLiu, Philipen_NZ
dc.date.available2011-04-07T03:09:54Z
dc.date.copyright2003-10en_NZ
dc.identifier.citationLiu, P. (2003, October). Improving inflation targeting in New Zealand: An investigation of the Reserve Bank’s inflation errors (Dissertation, Bachelor of Commerce with Honours). Retrieved from http://hdl.handle.net/10523/1172en
dc.identifier.urihttp://hdl.handle.net/10523/1172
dc.description.abstractIn this project, we investigate New Zealand's rate of inflation and its deviations from target using two new methods. Firstly, Rowe's (2002) method of examining the correlations between inflation deviations from target and indicators where any significant correlations, whether in a simple or multivariate framework, will be evidence against an optimal policy setting; secondly, we test Cukierman and Gerlach's (2003) and Ruge-Murcia's (2001) new inflation bias hypothesis for New Zealand. In contrast to Kydland and Prescott's (1977) and Barro and Gordon's (1983) time inconsistency explanation of inflation bias, Ruge-Murcia, Cukierman and Gerlach postulates that even if central banks target the natural rate of unemployment or the potential level of output, some inflation bias could still exist if their loss function is asymmetric. Finally this study looks at how actual inflation error from 1982 to 2003 could help improve inflation targeting for the Reserve Bank of New Zealand in the futureen_NZ
dc.subjectrate of inflationen_NZ
dc.subjectNew Zealanden_NZ
dc.subjectdeviations from targeten_NZ
dc.subjectinflation bias hypothesis for New Zealanden_NZ
dc.subjectinflation deviations from target and indicatoren_NZ
dc.subjectReserve Bank of New Zealanden_NZ
dc.subject.lcshHF Commerceen_NZ
dc.subject.lcshHF5601 Accountingen_NZ
dc.subject.lcshHC Economic History & Conditionsen_NZ
dc.subject.lcshH Social Sciences (General)en_NZ
dc.subject.lcshHB Economic Theoryen_NZ
dc.titleImproving inflation targeting in New Zealand: An investigation of the Reserve Bank's inflation errorsen_NZ
dc.typeDissertationen_NZ
dc.description.versionUnpublisheden_NZ
otago.bitstream.pages55en_NZ
otago.date.accession2006-10-06en_NZ
otago.schoolEconomicsen_NZ
thesis.degree.disciplineEconomicsen_NZ
thesis.degree.nameBachelor of Commerce with Honours
thesis.degree.grantorUniversity of Otagoen_NZ
thesis.degree.levelHonours Dissertationsen_NZ
otago.interloanyesen_NZ
otago.openaccessAbstract Only
dc.identifier.eprints425en_NZ
otago.school.eprintsEconomicsen_NZ
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