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Wheeler: Some thoughts on New Zealand’s Economic Expansion
Thank you for inviting me to meet with you again. It’s always a pleasure to be here and exchange views on how the economy is performing. In many respects the economy is performing well. Relative to the trends over the past two decades, we are experiencing stronger economic growth, lower inflation, and a lower unemployment rate - even with record levels of labour force participation. And the Achilles heel of many New Zealand expansions – a large current account deficit – has not eventuated (figure 1).Economists are well known for their two-handed assessments, and it won’t surprise you if I mention that not ... (full story)
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