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Family2

Closing the loop depends on delivering wellbeing

There are a lot of promising initiatives in the coalition Government's first "Wellbeing" Budget. But delivering on that promise requires closing a currently open loop in the wellbeing policy process. We need evaluation to help us tell which of the Government's initiatives have proven most successful, and Budget 2019 delivered far less than we might have hoped for on that front. Read more

Dr Eric Crampton
The Dominion Post
31 May, 2019
Budget 2022

Delivering Wellbeing

The Wellbeing Budget came in the government’s proclaimed year of delivery. But whether this budget will deliver the wellbeing outcomes everyone has been led to expect is a bit up in the air. While the wellbeing policy process highlighted by Minister Robertson emphasises the importance of evidence-driven policy, and of policy evaluation, Budget 2019 was far weaker on evaluation than we might have hoped. Policy evaluation matters. Read more

Dr Eric Crampton
Insights Newsletter
31 May, 2019
Reserve Bank of NZ2

Capital hike tip of RBNZ iceberg

New Zealand’s Reserve Bank is creating waves on both sides of the Tasman. Just before Christmas, it surprised the banking sector with proposals to almost double banks’ capital ratios.The RBNZ estimates the new capital requirements are equivalent to about 70 per cent of the banking sector’s profits over the proposed five-year transition period. With New Zealand’s four major trading banks all Australian-owned, this news will have been as much a shock on Collins Street as it was on Queen Street.The... Read more

Roger Partridge
Australian Financial Review
29 May, 2019
Game of thrones winter

“Winter is Coming”

Being an economist is great. But there is a downside. A lot of people wind up annoyed by some parts of fantasy worlds in books and movies, but economists get annoyed by very different things.HBO’s Game of Thrones finally ended this week. The last two seasons brought increasing fan annoyance: the plotting and pace made far less sense than in prior seasons.For those who haven’t followed, Game of Thrones largely takes place on the continent of Westeros, in a fantasy... Read more

Dr Eric Crampton
Insights Newsletter
24 May, 2019
Crisis

Financial stability and due scrutiny

During the Global Financial Crisis, many banks around the world failed spectacularly (though fortunately none in Australia or New Zealand). Some financial institutions were bailed out at enormous costs to taxpayers. Others went under, causing severe disruption to their economies.To prevent such a scenario ever playing out again must be a constant worry for any financial markets regulator and central bank.This is why the Reserve Bank of New Zealand (RBNZ) published proposals last December to increase the amount of capital... Read more

Dr Oliver Hartwich
Insights Newsletter
17 May, 2019
Mouse

Free is expensive

Readers of The New Zealand Herald should welcome its recent introduction of a $5-weekly subscription to access premium content. So should non-readers. If successful, New Zealand will benefit from an additional stream of high-quality journalism worth paying for. As the global spread of media paywalls attests, informative and accurate online news is hard to produce solely via advertisement sales. (For one, robust analyses on politics, economics, and current affairs are not as “clickable” as homemade cat videos and tabloid stories.)... Read more

Dr Patrick Carvalho
Insights Newsletter
10 May, 2019
Jonathan Haidt

Disagree more constructively

When US psychologist Jonathan Haidt published The Righteous Mind in 2012, he himself may not have known how prescient it would be. The book’s subtitle is Why Good People Are Divided by Politics and Religion. Though such divisions were clearly visible even then, they were just a foretaste of what was to come. Trump, Brexit and the global surge of populism have created more politically divided societies than at any time during the past half century. Read more

Dr Oliver Hartwich
Insights Newsletter
3 May, 2019

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