Independent Review of the Operation of Monetary Policy in New Zealand

In May 2000, the Government announced that the New Zealand monetary policy framework would be reviewed. Professor Lars Svensson of Stockholm University was appointed to undertake the review and to report by the end of February 2001. Professor Svensson’s report was released by the Treasurer/Minister of Finance on 28 February.

In this issue of the Bulletin, we have published the Executive Summary and recommendations of the Svensson Report, together with the terms of reference of the review. The complete report by Professor Svensson can be obtained from the New Zealand Treasury and can be accessed on www.monpolreview.govt.nz – the monetary policy review website, and on www.rbnz.govt.nz – the Reserve Bank of New Zealand’s website.

» Read more: Independent Review of the Operation of Monetary Policy in New Zealand

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Thinking Positively About Monetary Policy – How “Quantitative Easing” Can Serve The Public Good

Nervous pundits are predicting the end of American life as we know it, after Fed Chairman Ben Bernanke announced on March 18 that he would be dropping yet another trillion dollars in helicopter money – up to $300 billion to buy long-term government bonds and an additional $750 billion to buy private debt, with the Term Asset-backed Securities Loan Facility (TALF) to be opened up for the sake of consumers and small businesses. The dollar immediately experienced its worst drop in 25 years, amid worries that the Fed’s intervention would spur hyperinflation. Typical of the concerned commentators expressing these sentiments was Mark Larson, who wrote in “Money and Markets” on March 20:

“This is Banana Republic-type stuff! And I’m not talking about the clothing store. Printing money out of thin air at the central bank, only to turn around and buy debt securities issued by your Treasury, is the kind of practice you typically see in emerging market regimes. We’re essentially monetizing our country’s debt and deliberately devaluing our country’s currency.”

» Read more: Thinking Positively About Monetary Policy – How “Quantitative Easing” Can Serve The Public Good

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Autism Education Network – An In-Depth Overview

The Autism Education Network is helping raise the voice of children with autism to help them be heard and increase and maximize their capabilities. Collectively these children and adults are working towards reforming the lives of children with autism and their rights to a free and appropriate public education. Technology has sanctioned these families with the power to voice opinions and make a change.

Finding information may be difficult and cumbersome. By joining the Autism Education Network, you will receive updates on concerns facing the autism community. Joiners will also receive updates to community education programs as well as training and support programs. The network of individuals who support or receive support from the Autism Education Network will provide a strong united front to educating themselves as well as the children they love which will enable them to reach their fullest potential.

» Read more: Autism Education Network – An In-Depth Overview

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