Why we want the Reserve Bank to operate independently.
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RBNZ
Where is Fiscal and Monetary Policy Going?
Treasury has announced that it is having a major review of its macroeconomic policy framework.
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This paper demonstrates the truism that for every financial liability is matched by an asset. A fiscal deficit creates a liability of the government. Somewhere outside government – somewhere in the private sector – there is a private asset matching this public liability.
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