The Labour-NZ First coalition has earmarked $1 billion per annum for regional development. Strong business cases will be needed by local authorities vying for a slice of these funds. Don’t over-rely on GDP in these business cases.
A sense of intrigue prompted David Kennedy to visit Panama City – an oasis of wealth and success in Central America. He was vaguely aware of its economic and historic importance: it is a metropolis of futuristic skyscrapers, an airline hub, a tax haven, a financial hub, a nexus of global trade, and a United States outpost of sorts. He knew that all these attributes related, in one way or another, to the Panama Canal.
The Oresund bridge between Copenhagen in Denmark and Malmo in Sweden, a truly transformational (€4 billion) transport project that led to economic benefits much greater than would be estimated using standard cost-benefit analysis.
Although something on that scale is unlikely in New Zealand, it does raise the question of whether investing in large transport infrastructure projects could deliver benefits additional to those estimated using the NZ Transport Agency’s Economic Evaluation Manual.
This election, we’ve brought back the Infometrics Misery Index, which looks at the state of the economy compared to previous New Zealand governments, to provide a sense test of how the electorate might be feeling in the lead-up to September 23.
New research released this month by Infometrics suggests that we might currently be underestimating net migration by between 4,000 and 8,000 people per year. These figures imply that net migration could be closer to 80,000pa than the latest official measure of 72,300.
It is Got a Trade Week, where a wide range of training and career opportunities in the trades and services industries are highlighted. But why focus on raising awareness of the trades and services industries? Simply put, they are industries that we can’t afford to ignore. Overall, they account for 75% of all employment in New Zealand!
Brad Olsen has only just reached his 20s and he’s met Queen Elizabeth II twice! He’s our youngest economist and is already making his mark both at Infometrics and in youth politics.
We chat with Brad about what a day in the life of an economist looks like…
Infometrics estimates that over the coming decade, net migration of between 10,500 and 16,600pa appears to be appropriate to maintaining New Zealand’s population growth relative to world growth. However, with net migration currently sitting at 72,300pa, a gradual approach to pulling back the numbers means that it could be seven years or longer before net migration sits within this range.
There has been a significant body of research over the last decade into the effects of immigration on various aspects of the New Zealand economy, much of it done by Motu, as well as the Reserve Bank, Treasury, or in conjunction with the Ministry of Business, Innovation and Employment. Some of the key findings from this research include the following.
Infometrics uses seasonally adjusted data to gauge month-to-month trends in car registrations. The purpose of doing so is to track whether there are any changes in momentum in car sales growth. It also helps us to look through the seasonal patterns that normally drive sales up or down in any given month. Examples of a regular seasonal pattern include strong growth in new car sales due to rental car purchases in October and November, or the lift in sales around the time of Fieldays in June. This article provides explains how we might use seasonally adjusted data and how we calculate it.