Michael Reddell @MHReddell
Economist and commentator (formerly RBNZ, NZ Tsy, IMF, BoZ, BPNG) By grace, a disciple of Christ croakingcassandra.com Wellington Joined October 2017-
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Do senior ministers routinely met overseas counterparts not wearing a tie? Seems more than a little disrespectful.
Do senior ministers routinely met overseas counterparts not wearing a tie? Seems more than a little disrespectful.
I've seen this WSJ chart a bit in the last day or so, supporting a narrative about US economic strength/stature. I did the one on the right, using the same WEO database but using GDP at PPP exchange rates, and the picture is different in several important respects.
“some people” here led by the ACT Party, whose leader will be deputy PM next year.
Nice sceptical piece on proposals for newfangled industrial policies in Australia (more immediately) and NZ tvhe.substack.com/p/industrial-p…
NZ is in a recession. The government is borrowing money to keep the lights on and it is firing frontline public servants to save money. The same government is throwing $41m at a scheme that pays wealthy owners of southeast Asian power plants to retire them earlier than planned.…
Looks interesting (and v much in line with my priors) But NZ looks like being, at best, a weak example (given how little growth in X and M shares of GDP over the post liberalisation period, actual reversal in the last 20yrs). I know Irwin has been doing work on NZ.
Looks interesting (and v much in line with my priors) But NZ looks like being, at best, a weak example (given how little growth in X and M shares of GDP over the post liberalisation period, actual reversal in the last 20yrs). I know Irwin has been doing work on NZ.
Sober, but sobering, commentary from someone whose serious work I read a lot during the pandemic (the pieces he links to were also worth reading) joshuagans.substack.com/p/h5n1-is-anyo…
Private firms apparently shamelessly begging for the public’s money. nzherald.co.nz/business/with-…
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2K Followers 1 Following Political Polling & News for Aotearoa New Zealand | Polling Aggregate Released Monthly | Run by @Tiare_MP@MHReddell Yes, irrespective of the composition of the prison population, I suspect that Anglo countries are more selective over who settles there. I’m convinced, for instance, that at least 90% of immigrants to Britain are Australian and Kiwi bartenders.
Oxford is one of the most famous cities in the history of mankind, with centuries of refined, sophisticated, intelligent, beautiful architecture and infrastructure. But this is what they do in face of that unparalleled unprecedented heritage. This is a war on you.
Oxford’s new Life and Mind building takes finalshape. I gather Leonid Brezhnev has been asked to come and open it.
@MHReddell @dandolfa This section was added in 1967 after a crisis brought on by a very public fight between the Diefenbaker govt and the Bank's second gov - called the Coyne Affair. Actually, I'm writing a piece on it now. 2/2
Drag queen reading group cancels nationwide tour amid protests Now im coming For The Rest.. RSEs,Puberty Blockers, Councils,Rainbow Crossings. 1news.co.nz/2024/04/26/dra…
Financial Times: Anglo countries are great at assimilating immigrants; just look at their prisons. Reality: Australia and New Zealand are outliers because their prisons are full of their surviving indigenous populations.
Back in Kew after a week in Armenia, a small country squeezed between hostile aggressive neighbours. It is in the UK economic interests to hold its nose and look away. BP has the largest UK investment in Azerbaijan. Turkey is strategic partner. I will never forget the poor…
@MHReddell Naive voters who thought it would the panacea for those suffering. It’s always only the start. Suspect if pot had been legalised, there’d be a push for mushrooms or more (Denver; Colorado for eg)
Randomised trials: so useful that Andrew Leigh and the ALP won’t use one to show how much ripping up planning rules can lower the cost of housing
When it came to curing scurvy, everyone had their own theory. It took a randomised trial to find the answer & save thousands of lives. Our latest #InequalityBites episode 👇 #randomistas #auspol
@GeorgeSelgin I'm not actually defending or critiquing the policy. In fact, from the article, I had a hard time determining what exactly was being proposed at all! What I'm reacting to is the deeply inflammatory tone of the article. 1/2
@DanEricRohde Consulting is one thing--but nothing prevents that now. I'd be very wary, though, of any more formal involvement of the President in the M-policy decision-making process; and I would like to see it rationalized on grounds other than that other CBs allow it.
@MHReddell Yeah, been here and did the analysis. 92% for many people we care about. And also, minimum wage increases for those where minimum wage earner is sole income in the family, and there are children... govt pockets 70%+ of the increase. kiwiblog.co.nz/2022/10/emtr_s…
I am very bearish re tertiary education sector in both Australia and NZ. To put it simply, its apparent market valuation (reflected by apparent willingness to pay) is now detached from fundamentals. Most of the teaching is done by overworked, overtired, demoralised temporary…
NZ is in a recession. The government is borrowing money to keep the lights on and it is firing frontline public servants to save money. The same government is throwing $41m at a scheme that pays wealthy owners of southeast Asian power plants to retire them earlier than planned.…
It is hard to think of a less intelligent approach than @ojblanchard1 "So what?". It is understandable that if Russia & US were at war, US would seize RUS official assets. This has happened in history. But they are not at war.
Seizing assets b/c a country friendly to the US but with which US has no formal alliance has been attacked breaks all the rules. What happens if India & Pakistan go to war? Whose assets is US going to seize? If Congo attacks Rwanda? Is US going to seize Congolese assets?
Is it OK for China to confiscate American assets b/c US attacked Iraq and Libya? You can give hundreds of examples. If you break the global rules, you have to break them w/more compelling argument than "So what?".
I am reminded of Bill Maher ‘drag queen story time is more about the queen than the kids’. Drag queen reading group Rainbow Storytime cancels nationwide tour amid ongoing protest by Destiny Church leader Brian Tamaki - NZ Herald nzherald.co.nz/nz/drag-queen-…
My piece in today's @FinancialReview explaining why negative gearing is neither a tax concession nor particularly impactful on house prices. Eliminating it would be an unprincipled hack that would distract from the fundamental tax reform we actually need. afr.com/politics/feder…
Two facts about negative gearing: 1) Negative gearing is not a tax concession. 2) Negative gearing has a negligible effect on house prices. That, despite these two facts, negative gearing occupies such a large share of policy debate in Australia is strange and disappointing.
@PronouncedHare This is a great result