Calm after the storm? Supply‐side contributions to New Zealand's GDP volatility decline

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• Robert A. Buckle, The Treasury, P.O. Box 3724, Wellington, New Zealand. Email: Bob.Buckle(5)treasurv.govt.nz. Telephone 64–4‐4715252, Fax 64–4‐4730982. The views expressed in this paper are those of the author and do not necessarily reflect the views of The Treasury. David Haugh, Australian National University, P.O. Box 4, Canberra, Australia. Email: [email protected]. Peter Thomson, Statistics Research Associates Ltd, P.O. Box 12649, Thorndon, Wellington, New Zealand. Email: [email protected].
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• The authors acknowledge the benefit of helpful suggestions on earlier drafts of this paper from Phil Briggs, Iris Claus, Nick Davis, Katy Henderson, and John Simon, participants at seminars held at the New Zealand Treasury, the Reserve Bank of New Zealand, the New Zealand Institute of Economic Research and the 2002 Australasian Macroeconomics Workshop. We are also grateful to two anonymous referees and the Editor for constructive suggestions on a previous draft. Michael Oliver at Statistics New Zealand provided valuable information concerning the construction of Statistics New Zealand's real GDP data.
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