Good luck or good policy? A recent macroeconomic history of New Zealand

buir.contributor.orcidAkbal, Ömer Faruk|0000-0002-2770-6498en_US
dc.contributor.authorAkbal, Ömer Faruk
dc.contributor.bilkentauthorAkbal, Ömer Faruk
dc.date.accessioned2023-02-28T13:12:52Z
dc.date.available2023-02-28T13:12:52Z
dc.date.issued2022-06-29
dc.departmentDepartment of Economicsen_US
dc.description.abstractThe Great Moderation was a global phenomenon marked by stable economic growth and inflation. However, how much monetary policy contributed to its success remained a popular debate in the literature. Answering this question became imperative after the global financial crisis since global conditions became relatively more important than past. I examined the recent macroeconomic history of New Zealand through the lens of a regime-switching structural vector-autoregression model to understand the contributions of domestic monetary policy and global conditions to its macroeconomic stabilization. A small open economy structure is essential to facilitate the identification of structural shocks that spillover from the globe.en_US
dc.identifier.doi10.1142/S0217590822500436en_US
dc.identifier.eissn1793-6837
dc.identifier.urihttp://hdl.handle.net/11693/111941
dc.language.isoEnglishen_US
dc.publisherWorld Scientific Publishing Co. Pte. Ltd.en_US
dc.relation.isversionofhttps://doi.org/10.1142/S0217590822500436en_US
dc.source.titleThe Singapore Economic Reviewen_US
dc.subjectRegime-switching SVARsen_US
dc.subjectSmall open economy business cyclesen_US
dc.subjectInflation targetingen_US
dc.titleGood luck or good policy? A recent macroeconomic history of New Zealanden_US
dc.typeArticleen_US
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