research note monetary polichy

Monetary Policy Without Mates: Why the Reserve Bank is Right to Focus on Price Stability

The Reserve Bank of New Zealand has been unfairly scapegoated for the current recession when it was simply doing its job of bringing inflation under control. The research note, Monetary Policy Without Mates, reveals that while the RBNZ fought to tame inflation that peaked at nearly 8%, the government's fiscal policy worked against these efforts – forcing interest rates to stay higher for longer. Read more

Dr Oliver Hartwich
Dr Eric Crampton
Dr Bryce Wilkinson ONZM
Research Note
23 September, 2025

Podcast: Building cyber resilience in New Zealand

In this episode, Oliver talks to Sam Andrews, Chief Strategy Officer at Bastion Security, about New Zealand’s cybersecurity landscape and the evolving threats facing organisations. They explore how AI is reshaping both attacks and defences, the strengths and weaknesses of New Zealand’s regulatory framework, and why building resilience is just as vital as strong security. Read more

Dr Oliver Hartwich
Sam Andrews
19 September, 2025
kerre woodham newstalkzb

Newstalk ZB: Dr Eric Crampton says returning spending to 2019 levels would have allowed rate cuts

Dr Eric Crampton told Kerre Woodham on Newstalk ZB that New Zealand’s 0.9% economic contraction reflects the Reserve Bank “going incredibly overboard” in 2020–21 and losing credibility on inflation, making today’s correction unavoidable. He criticised government claims of restraint, noting budgets remain “incredibly stimulatory” with “massive structural deficits,” and argued that if spending had returned to 2019 wellbeing-budget levels, the Bank would have had far more room to cut interest rates. Read more

Dr Eric Crampton
Kerre Woodham
Newstalk ZB
19 September, 2025

Podcast: When authoritarians silence universities

In this episode, James Kierstead talks with Sarah McLaughlin, Senior Scholar, Global Expression at the Foundation for Individual Rights and Expression (FIRE), about her forthcoming book Authoritarians in the Academy. They explore how authoritarian governments, particularly China, pressure universities abroad through funding ties, partnerships, and intimidation of students and scholars. Read more

Dr James Kierstead
Sarah McLaughlin
17 September, 2025

Press Statement: Initiative Welcomes Commerce Commission Governance Reform, Cautions on Overreach in Commerce Act Changes

Wellington (Tuesday, 16 September 2025) – The New Zealand Initiative welcomes the Government’s decision to strengthen the governance of the Commerce Commission, describing it as an important step towards world-class regulatory practice. The Initiative’s 2018 report Who Guards the Guards? Read more

Dr Eric Crampton
Roger Partridge
Press Statement
16 September, 2025

Podcast: When tax policy goes wrong

In this episode, Eric and Nick talk to Michael (Mick) Keen, a former Deputy Director of the IMF's Fiscal Affairs Department and co-author of "Rebellion, Rascals and Revenue", about the many ways taxation can go wrong throughout history. They explore bizarre historical taxes like Britain's window tax and ship taxation, discuss New Zealand's exemplary GST system, and examine how poor tax design can lead to smuggling, rebellions, and unintended economic distortions. Read more

Dr Eric Crampton
Michael (Mick) Keen
15 September, 2025

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