New Zealand’s economy is officially in a recession, with statistics released today revealing a record 12.2% decline in GDP. But as Jarrod Kerr of Kiwi Economics writes, it’s now time to focus on recovery. As economists, we love trawling through data. But we’ve never seen anything like this. This is traumatic. Service exports were stonewalled, … Read more
It’s an economic theory that advocates tout as a solution to governments’ debt crises, but critics warn is a recipe for hyperinflation. Either way, modern monetary theory is getting a lot more attention in the era of Covid-19. Two big economic ideas have captured the popular imagination during the Covid-19 pandemic: the universal basic income … Read more
In times of economic uncertainty, good information can be an invaluable commodity. So we’ve been working on a way to channel it to you. For many people, knowing what to do in our radically changing economy is like trying to figure out what to do when the power in your house stops working. You’re at … Read more
We’re only just beginning to understand the vast political ramifications of the coronavirus, both here and around the world, writes Colin James. What comes after Covid-19? Not business as usual. The global virus is a disjunctive shock and such a shock sets up a chain reaction that changes the order of things. That there is … Read more
While the government’s massive financial assistance package will provide some relief, experts say NZ business owners still need to be proactive and calm – and make hard decisions sooner rather than later. Called “the most significant peace-time economic plan in modern New Zealand history” the government’s $12bn financial package announced this week will provide much-needed … Read more
The government has announced a huge $12bn economic plan aimed at cushioning the impact of Covid-19 on New Zealand workers and the wider economy. We asked a range of commentators for their reaction. Arthur Grimes: NZ’s history of fiscal surpluses might just save the day The Covid-19 pandemic is the biggest economic shock to hit … Read more
What makes us save and invest the way we do? Jihee Junn explores how history and culture have shaped our approach to investing and why, despite our ‘rockstar economy’, many are feeling left out. A lot of great things happened in 1987: New Zealand officially went nuclear-free, Māori became recognised as an official language, and … Read more
Good morning, and welcome to The Bulletin. In today’s edition: Tax break for oil rigs raises subsidy questions, crackdown by police against Ihumātao occupation, and Boris Johnson set to become UK PM. A story about tax breaks for oil rigs has shown how difficult disentangling from the fossil fuels industry will be. Writing on Stuff, Henry Cooke … Read more