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The 1931 massive fiscal contraction should have slowed the NZ recovery if Keynesian macroeconomics is worth more than a grain of salt
31 Mar 2020 7 Comments
in budget deficits, business cycles, economic history, fiscal policy, great depression, labour economics, labour supply, macroeconomics, monetary economics, public economics, unemployment Tags: Keynesian macroeconomics, new classical macroeconomics, New Keynesian macroeconomics, New Zealand
100 years on New Zealand unemployment rates
31 Mar 2020 1 Comment
in business cycles, economic history, great depression, job search and matching, labour economics, labour supply, macroeconomics, unemployment Tags: Keynesian macroeconomics, New Keynesian macroeconomics, New Zealand
Unlike NZ, Canada can’t blame size, distance nor remoteness for low productivity
02 Jul 2018 Leave a comment
in applied price theory, economic growth, macroeconomics Tags: Canada, lost decades, New Zealand
G7, Danish, Australian and New Zealand marginal income tax and social security contribution rates
31 Jan 2016 Leave a comment
in politics - Australia, politics - New Zealand, politics - USA, public economics Tags: Australia, British economy, Canada, Denmark, France, Germany, Italy, Japan, New Zealand, social insurance, Social Security taxes, taxation and labour supply
Ordinary French, Germans, Italians and Danish pay much higher marginal tax rates and that is before their high rates of GST.
Data extracted on 30 Jan 2016 03:08 UTC (GMT) from OECD.Stat.
European exploration of Australia & New Zealand
27 Nov 2015 Leave a comment
in economic history Tags: Age of exploration, Australia, New Zealand
Tertiary education premium by gender in the English-speaking countries, 2012
19 Oct 2015 1 Comment
in discrimination, economics of education, gender, human capital, labour economics, occupational choice, politics - Australia, politics - New Zealand, politics - USA Tags: Australia, British economy, Canada, College premium, education premium, gender wage gap, Ireland, New Zealand, reversing gender gap
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.
Source: Education at a Glance 2014.
Once were British
30 Sep 2015 Leave a comment
in economic history, politics - Australia, politics - New Zealand Tags: British empire, New Zealand, New Zealand Constitution, Statute of Westminster
How many working poor in USA, UK, Canada, Australia and New Zealand?
14 Jul 2015 Leave a comment
in international economics, labour supply, minimum wage, politics - Australia, politics - New Zealand, politics - USA, poverty and inequality, welfare reform Tags: Australia, British economy, Canada, low pay, New Zealand, social insurance, welfare state, working poor
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
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
07 Jul 2015 Leave a comment
in health economics Tags: life expectancies, New Zealand, The Great Escape
New Zealand is an anomaly in the OECD Better Life index
02 Jul 2015 Leave a comment
in applied welfare economics, politics - New Zealand Tags: New Zealand, OECD Better Life Index
OECD Better Life Index correlates with GDP
But US lower than poorer countries
& NZL higher than richer countries http://t.co/yrTCnO1B0l—
Max Roser (@MaxCRoser) June 26, 2015
Who taxes average workers most out of Australia, New Zealand, the USA and UK?
23 Jun 2015 Leave a comment
in fiscal policy, macroeconomics, politics - Australia, politics - New Zealand, politics - USA, population economics, public economics Tags: Australia, British economy, New Zealand, taxation and the labour supply
Figure 1: Direct taxes on the average worker in Australia, New Zealand, USA and UK, 2001 – 2012
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
21 Jun 2015 Leave a comment
in applied welfare economics, economic history, Gary Becker, politics - Australia, politics - New Zealand, politics - USA, population economics, technological progress Tags: Australia, British economy, Canada, life expectancy, lost decades, New Zealand, The Great Enrichment
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
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.
Utopia, you are standing in it! 
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