The 1931 massive fiscal contraction should have slowed the NZ recovery if Keynesian macroeconomics is worth more than a grain of salt

100 years on New Zealand unemployment rates

Unlike NZ, Canada can’t blame size, distance nor remoteness for low productivity

The Great Escape in New Zealand infant mortality

New Zealand infant mortality

Image

G7, Danish, Australian and New Zealand marginal income tax and social security contribution rates

Ordinary French, Germans, Italians and Danish pay much higher marginal tax rates and that is before their high rates of GST.

image

Data extracted on 30 Jan 2016 03:08 UTC (GMT) from OECD.Stat.

European exploration of Australia & New Zealand

Tertiary education premium by gender in the English-speaking countries, 2012

There are large differences in the education premium between English speaking countries and also by gender. The tertiary premium in New Zealand is pretty poor compared to the USA, UK or Ireland and is still mediocre when compared to Australia and Canada.

image

Source: Education at a Glance 2014.

Once were British

https://twitter.com/CartogRRaphy/status/649016785929265152/photo/1

How many working poor in USA, UK, Canada, Australia and New Zealand?

Figure 1: working poor – proportion of employed persons with income below the poverty line (50% of median disposable income) living in households with a working age head and at least one worker in USA, UK, Canada, Australia and New Zealand, 2013

image

Source: In It Together – Why Less Inequality Benefits All – © OECD 2015, OECD Income Distribution Database (IDD), www.oecd.org/social/income-distribution-database.htm, Table 1.A1.1. Key indicators on the distribution of household disposable income and poverty, 2007, 2011 and 2013 or most recent year.

New Zealand life expectancy increases by age cohort from 1990

New Zealand life expectancies women New Zealand life expectancies women save

New Zealand life expectancies man

via Life Expectancy by Age in selected Country from 1990 to 2013 | Health Intelligence.

.

New Zealand is an anomaly in the OECD Better Life index

Who taxes average workers most out of Australia, New Zealand, the USA and UK?

Figure 1: Direct taxes on the average worker in Australia, New Zealand, USA and UK, 2001 – 2012

image

Source: OECD Factbook 2014

Taxes on the average worker measure the ratio between the amount of taxes paid by the worker and the employer on the country average wage and the corresponding total labour cost for the employer. This tax wedge measures the extent to which the tax system on labour income discourages employment.

The taxes included in the measure are personal income taxes, employees’ social security contributions and employers’ social security contributions. For the few countries that have them, it also includes payroll taxes. The amount of these taxes paid in relation to the employment of one average worker is expressed as a percentage of their labour cost (gross wage plus employers’ social security contributions and payroll tax).

An average worker is defined as somebody who earns the average income of full-time workers of the country concerned in Sectors B-N of the International Standard Industrial Classification (ISIC Rev. 4). The average worker is considered single without children, meaning that he or she does not receive any tax relief in respect of a spouse, unmarried partner or child.

The Quantity and Quality of Australian, New Zealand, Canadian, American and English & Welsh Lives, 1965 to 1995

Figure 1: increase in real GDP and increase in real GDP plus life expectancy GDP increase equivalent, Australia, New Zealand, Canada, USA and England & Wales, 1965 to 1995

image

Source: Becker, Gary S., Tomas J. Philipson, and Rodrigo R. Soares. The Quantity and Quality of Life and the Evolution of World Inequality, NBER Working Paper No. 9765 (June 2003).

GDP per capita is usually used to proxy for the quality of life of individuals living in different countries. Becker and his co-authors computed a "full" growth rate that incorporates the gains in health and life expectancy.

Figure 1 shows that New Zealand was way behind the other countries in improvements in the quantity and quality of life between 1965 and 1995. This brings new meaning to the two decades of lost growth between 1973 and 1995. Canada should refer to 1965 to 1995 as its golden era.

The school year is slightly above average length in New Zealand and Australia

Working age populations of Australia, New Zealand and Japan

image

HT: OECD

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