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Reinforcing New Zealands trade relationships after Covid 19 1

Research Note: Reinforcing New Zealand’s trade relationships after Covid-19

The Covid-19 pandemic and economic lockdown means many countries are looking inwards. But global cooperation will be an important lever out of the economic and social consequences of the virus. The New Zealand government should embrace the opportunity to reinforce its image as a clean, open and lawful nation. Read more

Dr Bryce Wilkinson
Nathan Smith
Research Note
30 April, 2020
Lessons from abroad South Koreas Covid 19 Containment Model 1

Research Note: Lessons from abroad: South Korea's Covid-19 Containment Model

As the world struggles to contain Covid-19, many countries are at different stages of containment and mitigation since registering their first 100 cases. Some, like South Korea, are more than a month further ahead compared with New Zealand and could offer a good example of what might be expected as New Zealand transitions out of Alert Level 4 lockdown. As of April 20, South Korea is 91 days into its Covid-19 response compared to New Zealand's 52 days. Read more

Joel Hernandez
Research Note
23 April, 2020
Research Note Deficit spending in a crisis why there is no such thing as a free lunch 1

Research Note: Deficit spending in a crisis: why there is no such thing as a free lunch

The New Zealand Initiative supports government deficit spending during the Covid-19 crisis on the basis that it is funded by conventional borrowing. This report explains why funding deficits by central bank credit creation with no credible timetable for reversing the situation is a route to financial disaster. The cost of the Covid-19 Alert Level 4 lockdown in lost jobs and national income is horrendous, and the government spending response is unprecedented in living memory. Read more

Dr Bryce Wilkinson
Research Note
22 April, 2020
Lessons from abroad Singapores Covid19 Containment Model 1

Research Note: Lessons from abroad: Singapore’s Covid-19 Containment Model

Singapore has set a high standard for dealing with Covid-19 and despite its decision to enter a lockdown this week, New Zealand can learn a lot from the country, according to a new report Lessons from abroad: Singapore’s Covid-19 containment model from the New Zealand Initiative.Although Singapore has enacted a “circuit breaker” lockdown to defend against some new sources of coronavirus, it could make this choice due to its earlier efforts to identify, control and contain the pandemic threatening its... Read more

Research Note
8 April, 2020
Relief measures comparing Covid19 wage subsidy schemes 1

Policy Point: Relief measures: comparing Covid-19 wage subsidy schemes

The Covid-19 outbreak will likely lead to a significant economic recession. The government's pandemic response has rightly prioritised maintaining employment and the ability of firms to recover quickly when the crisis abates.To this end the Government was quick to implement a wage subsidy scheme but as the crisis has evolved, it is only right to ask whether this scheme remains fit for purpose. This report compares wage subsidy schemes in Canada and Australia with New Zealand’s Read more

Dr David Law
Policy Point
7 April, 2020
How bad might the lockdown be for jobs and income 1

Research Note: How bad might the lockdown be for jobs and income?

If New Zealand can’t recover from the economic “heart attack” of self-imposed lockdown, it could face GDP losses at Great Depression levels, according to a New Zealand Initiative research note. While the Covid-19 pandemic has not ruined New Zealand’s economic capabilities, the lockdown has forced the country into an unprecedented productivity pause which the Initiative’s senior fellow Bryce Wilkinson says could slice away about $10,000 per household this year. Read more

Dr Bryce Wilkinson
Research Note
3 April, 2020
Policy Point Stay on Target 1

Policy Point: Stay on Target

The pandemic-induced recession creates a strong case for the Government to support struggling workers with targeted assistance, rather than a Universal Basic Income (UBI), according to the new policy paper Stay on Target by The New Zealand Initiative. As the Government searches for fresh and innovative ideas to prepare for the worst economic effects of shutting down the country’s commerce over four weeks, it has tentatively proposed the introduction of a universal basic income scheme. Read more

Dr Eric Crampton
Dr David Law
Policy Point
27 March, 2020
Effective Treatment Public policy prescription for a pandemic 1

Research Note: Effective Treatment: Public policy prescription for a pandemic

Unless effective treatment for the novel coronavirus Covid-19 emerges quickly, the world faces not only misery but economic depression. New Zealand will be immune to neither. The normal economic uncertainties of a downturn will be compounded by the uncertainties of a pandemic. Read more

Dr Eric Crampton
Research Note
26 March, 2020
Policy Point Short time work to maintain employment 1 1

Policy Point: Short-time work to maintain employment

The Covid-19 outbreak is quickly developing into an economic crisis. Maintaining employment and the ability of firms to recover quickly when the crisis abates is critically important given that labour markets in several European countries are yet to fully recover from the Global Financial Crisis (GFC) of 2008.The Government has already taken steps to avoid this happening in New Zealand, including multiple measures to help both firms and workers like wage subsidies. Read more

Dr David Law
Policy Point
24 March, 2020

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