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Most of that time was at the Reserve Bank, where I ran a number of areas, including a spell as Head of Financial Markets, responsible for monetary policy implementation, foreign reserves management, and the analysis…" /> </head> <body class="wp-singular page-template-default page page-id-1 wp-theme-pubbig-brother customizer-styles-applied jetpack-reblog-enabled custom-colors"> <div id="page" class="hfeed site"> <a class="skip-link screen-reader-text" href="#content">Skip to content</a> <header id="masthead" class="site-header clearfix" role="banner"> <div class="site-branding"> <a href="https://croakingcassandra.com/" class="site-logo-link" rel="home" itemprop="url"></a> <h1 class="site-title"><a href="https://croakingcassandra.com/" rel="home">croaking cassandra</a></h1> <h2 class="site-description">Economics, public policy, monetary policy, financial regulation, with a New Zealand perspective</h2> </div> <nav id="site-navigation" class="main-navigation nav-horizontal" role="navigation"> <button class="menu-toggle" aria-controls="primary-menu" aria-expanded="false">Menu</button> <div id="primary-menu" class="menu"><ul> <li ><a href="https://croakingcassandra.com/">Home</a></li><li class="page_item page-item-1 current_page_item"><a href="https://croakingcassandra.com/about/" aria-current="page">About Michael Reddell’s blog</a></li> <li class="page_item page-item-66509"><a href="https://croakingcassandra.com/book-reviews/">Book reviews</a></li> <li class="page_item page-item-58338"><a href="https://croakingcassandra.com/china-prc/">China (PRC)</a></li> <li class="page_item page-item-71258"><a href="https://croakingcassandra.com/early-mpss-and-economic-projections/">MPSs & Economic Forecasts from early-mid 90s</a></li> <li class="page_item page-item-8395"><a href="https://croakingcassandra.com/papers-and-speeches/">Papers and speeches</a></li> <li class="page_item page-item-70350"><a href="https://croakingcassandra.com/reserve-bank-of-new-zealand-superannuation-scheme/">Reserve Bank of New Zealand Superannuation Scheme</a></li> </ul></div> </nav> </header> <div id="content" class="site-content clearfix"> <div class="breadcrumbs"> <a class="breadcrumbs-root" href="https://croakingcassandra.com/">Home</a><span class="breadcrumbs-current">About Michael Reddell’s blog</span> </div> <div class="content-area primary"> <main id="main" class="site-main" role="main"> <div class="article-wrapper"> <article id="post-1" class="post-1 page type-page status-publish hentry"> <header class="entry-header"> <h1 class="entry-title">About Michael Reddell’s blog</h1> </header> <div class="entry-content"> <p>I’ve spent 30+ years doing economic analysis and policy advice in a range of institutions, in New Zealand and overseas. Most of that time was at the Reserve Bank, where I ran a number of areas, including a spell as Head of Financial Markets, responsible for monetary policy implementation, foreign reserves management, and the analysis of financial system risks. I spent 25 years or so on the (equivalent of the) OCR Advisory Group to the Governor, and many years on the Bank’s key internal financial regulation policy committee.</p> <p>In other parts of my career, I was resident economic adviser to the central banks of Papua New Guinea and Zambia, the latter as an IMF-appointee. I spent two years as Alternate Executive Director on the Board of the International Monetary Fund (representing New Zealand and a dozen other countries) and two years as Special Adviser at The Treasury.</p> <p>In this blog, I hope to contribute to the debate on policy and economic issues, bringing to bear my experience, reading and thinking, and sharpening my own thinking – including as and when others respond and engage.</p> <p>My professional background is mostly in macroeconomics. My interests go much wider, and that wider range will be reflected in the content of this blog. <a href="https://croakingcassandra.com/papers-and-speeches/">This page </a>links to some of the more substantial pieces I’ve done, past and more recently.</p> <p>My first allegiance is to Jesus Christ, whose disciple I set out, by grace, to be. I hope that influences the content of my thoughts, and how I express them. One practical outworking of my faith is that this blog will not be updated on Sundays. I will also be commenting on aspects of faith and Christianity at <a href="https://amongtraditions.wordpress.com/" rel="nofollow">https://amongtraditions.wordpress.com/</a>.</p> <p>I can be contacted at mhreddell at gmail.com.</p> <p>UPDATE: In December 2023 the government of Papua New Guinea appointed me to the policymaking and governance board of their central bank (the Bank of Papua New Guinea), under a statutory provision that requires at least one board member to have wider central bank expertise and not to be resident in PNG. I do not write, and will not be doing so, directly about PNG issues, and no other central banking views articulated here should be read as reflections on the PNG situation (nor, of course, are any views expressed here anything but my personal views.).</p> <div id="jp-post-flair" class="sharedaddy sd-like-enabled sd-sharing-enabled"><div class="sharedaddy sd-sharing-enabled"><div class="robots-nocontent sd-block sd-social sd-social-icon-text sd-sharing"><h3 class="sd-title">Share this:</h3><div class="sd-content"><ul><li class="share-twitter"><a rel="nofollow noopener noreferrer" data-shared="sharing-twitter-1" class="share-twitter sd-button share-icon" href="https://croakingcassandra.com/about/?share=twitter" target="_blank" aria-labelledby="sharing-twitter-1" > <span id="sharing-twitter-1" hidden>Click to share on X (Opens in new window)</span> <span>X</span> </a></li><li class="share-facebook"><a rel="nofollow noopener noreferrer" data-shared="sharing-facebook-1" class="share-facebook sd-button share-icon" href="https://croakingcassandra.com/about/?share=facebook" target="_blank" aria-labelledby="sharing-facebook-1" > <span id="sharing-facebook-1" hidden>Click to share on Facebook (Opens in new window)</span> <span>Facebook</span> </a></li><li class="share-end"></li></ul></div></div></div><div class='sharedaddy sd-block sd-like jetpack-likes-widget-wrapper jetpack-likes-widget-unloaded' id='like-post-wrapper-85004741-1-67f7f9941d741' data-src='//widgets.wp.com/likes/index.html?ver=20250410#blog_id=85004741&post_id=1&origin=croakingcassandra.wordpress.com&obj_id=85004741-1-67f7f9941d741&domain=croakingcassandra.com' data-name='like-post-frame-85004741-1-67f7f9941d741' data-title='Like or Reblog'><div class='likes-widget-placeholder post-likes-widget-placeholder' style='height: 55px;'><span class='button'><span>Like</span></span> <span class='loading'>Loading...</span></div><span class='sd-text-color'></span><a class='sd-link-color'></a></div></div> </div> </article> </div> <div id="comments" class="comments-area clearfix"> <div class="comments-wrapper"> <h2 class="comments-title"> 30 thoughts on “<span>About Michael Reddell’s blog</span>” </h2> <ol class="comment-list"> <li id="comment-197" class="comment even thread-even depth-1 parent"> <article id="div-comment-197" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/dcf961ffd83d4b76c66ddb73512bbf1a6560a8e6ffec1362158fb5056c299d1c?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/dcf961ffd83d4b76c66ddb73512bbf1a6560a8e6ffec1362158fb5056c299d1c?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/dcf961ffd83d4b76c66ddb73512bbf1a6560a8e6ffec1362158fb5056c299d1c?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/dcf961ffd83d4b76c66ddb73512bbf1a6560a8e6ffec1362158fb5056c299d1c?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/dcf961ffd83d4b76c66ddb73512bbf1a6560a8e6ffec1362158fb5056c299d1c?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/dcf961ffd83d4b76c66ddb73512bbf1a6560a8e6ffec1362158fb5056c299d1c?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://tdmconsulting.co.nz" class="url" rel="ugc external nofollow">Richard Smith</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-197"><time datetime="2015-04-30T17:02:13+12:00">April 30, 2015 at 5:02 pm</time></a> </div> </footer> <div class="comment-content"> <p>Hi Michael</p> <p>When were you at BPNG? I am currently working there, off and on. We have been implementing a National Payments System (RTGS, Direct Credits, Cheque Truncation).</p> <p>Cheers</p> <p id="comment-like-197" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=197&_wpnonce=ce41fd5334" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-197" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=197#respond" data-commentid="197" data-postid="1" data-belowelement="div-comment-197" data-respondelement="respond" data-replyto="Reply to Richard Smith" aria-label="Reply to Richard Smith">Reply</a></div> </article> <ul class="children"> <li id="comment-198" class="comment byuser comment-author-mhreddell bypostauthor odd alt depth-2"> <article id="div-comment-198" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://croakingcassandra.com" class="url" rel="ugc">Michael Reddell</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-198"><time datetime="2015-04-30T18:07:47+12:00">April 30, 2015 at 6:07 pm</time></a> </div> </footer> <div class="comment-content"> <p>Long time ago (1985-87), but part of my heart is still in PNG. nice to have you reading this blog.</p> <p id="comment-like-198" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=198&_wpnonce=2e3c13a3fc" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-198" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=198#respond" data-commentid="198" data-postid="1" data-belowelement="div-comment-198" data-respondelement="respond" data-replyto="Reply to Michael Reddell" aria-label="Reply to Michael Reddell">Reply</a></div> </article> </li> </ul> </li> <li id="comment-2451" class="comment byuser comment-author-mountlester1 even thread-odd thread-alt depth-1 parent"> <article id="div-comment-2451" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://2.gravatar.com/avatar/b70ee0a0fb7d1af0be6ea0924cd86e82cf63f0943185d5ade690121ebc5a36a9?s=60&d=identicon&r=G' srcset='https://2.gravatar.com/avatar/b70ee0a0fb7d1af0be6ea0924cd86e82cf63f0943185d5ade690121ebc5a36a9?s=60&d=identicon&r=G 1x, https://2.gravatar.com/avatar/b70ee0a0fb7d1af0be6ea0924cd86e82cf63f0943185d5ade690121ebc5a36a9?s=90&d=identicon&r=G 1.5x, https://2.gravatar.com/avatar/b70ee0a0fb7d1af0be6ea0924cd86e82cf63f0943185d5ade690121ebc5a36a9?s=120&d=identicon&r=G 2x, https://2.gravatar.com/avatar/b70ee0a0fb7d1af0be6ea0924cd86e82cf63f0943185d5ade690121ebc5a36a9?s=180&d=identicon&r=G 3x, https://2.gravatar.com/avatar/b70ee0a0fb7d1af0be6ea0924cd86e82cf63f0943185d5ade690121ebc5a36a9?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://mountlester1.wordpress.com" class="url" rel="ugc external nofollow">Lester John Murray</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-2451"><time datetime="2015-08-07T18:44:06+12:00">August 7, 2015 at 6:44 pm</time></a> </div> </footer> <div class="comment-content"> <p>Michael I am a bit mystified after reading the back ground on Cassandra why you use Cassandra as your title. Do you think you are disbelieved or have been in your advice on economic policies. I am sure you were an excellent economist. With national economics politics can try to take over. But is the political force stronger than the economic force? Maybe. The ruler of the Reserve Bank is a politician. Blessings. ….Lester.</p> <p id="comment-like-2451" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=2451&_wpnonce=597602a507" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-2451" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=2451#respond" data-commentid="2451" data-postid="1" data-belowelement="div-comment-2451" data-respondelement="respond" data-replyto="Reply to Lester John Murray" aria-label="Reply to Lester John Murray">Reply</a></div> </article> <ul class="children"> <li id="comment-2455" class="comment byuser comment-author-mhreddell bypostauthor odd alt depth-2"> <article id="div-comment-2455" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://croakingcassandra.com" class="url" rel="ugc">Michael Reddell</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-2455"><time datetime="2015-08-07T19:02:13+12:00">August 7, 2015 at 7:02 pm</time></a> </div> </footer> <div class="comment-content"> <p>inspired by the great British economist JOhn Maynard Keynes<br /> <a href="https://news.google.com/newspapers?nid=2209&dat=19730321&id=LZ4rAAAAIBAJ&sjid=KfwFAAAAIBAJ&pg=7008,3009604&hl=en" rel="nofollow ugc">https://news.google.com/newspapers?nid=2209&dat=19730321&id=LZ4rAAAAIBAJ&sjid=KfwFAAAAIBAJ&pg=7008,3009604&hl=en</a></p> <p id="comment-like-2455" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=2455&_wpnonce=7750b655b4" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-2455" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=2455#respond" data-commentid="2455" data-postid="1" data-belowelement="div-comment-2455" data-respondelement="respond" data-replyto="Reply to Michael Reddell" aria-label="Reply to Michael Reddell">Reply</a></div> </article> </li> </ul> </li> <li id="comment-3757" class="comment even thread-even depth-1"> <article id="div-comment-3757" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/ac0adf9b024df81fb40edc78f218b7f4e972d7a8a15c8eb6a0b095da90163a17?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/ac0adf9b024df81fb40edc78f218b7f4e972d7a8a15c8eb6a0b095da90163a17?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/ac0adf9b024df81fb40edc78f218b7f4e972d7a8a15c8eb6a0b095da90163a17?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/ac0adf9b024df81fb40edc78f218b7f4e972d7a8a15c8eb6a0b095da90163a17?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/ac0adf9b024df81fb40edc78f218b7f4e972d7a8a15c8eb6a0b095da90163a17?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/ac0adf9b024df81fb40edc78f218b7f4e972d7a8a15c8eb6a0b095da90163a17?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Mitch Harris</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-3757"><time datetime="2015-09-18T08:10:45+12:00">September 18, 2015 at 8:10 am</time></a> </div> </footer> <div class="comment-content"> <p>Hi Michael,</p> <p>I am a Producer at Radio Live. I am always keen to get an unbiased, expert view on economic matters. I hate using bank economists. Are you interested in a bit of radio comment? For example today I would love to get some commentary on the Fed decision and what it is telling us.</p> <p>Kind regards,<br /> Mitch Harris</p> <p id="comment-like-3757" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=3757&_wpnonce=8b38325723" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-3757" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=3757#respond" data-commentid="3757" data-postid="1" data-belowelement="div-comment-3757" data-respondelement="respond" data-replyto="Reply to Mitch Harris" aria-label="Reply to Mitch Harris">Reply</a></div> </article> </li> <li id="comment-8355" class="comment odd alt thread-odd thread-alt depth-1 parent"> <article id="div-comment-8355" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4dc04f4221bbd2f4082262a6df1e6adb19db769b33e0c930edfaf5df585c9b7f?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4dc04f4221bbd2f4082262a6df1e6adb19db769b33e0c930edfaf5df585c9b7f?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4dc04f4221bbd2f4082262a6df1e6adb19db769b33e0c930edfaf5df585c9b7f?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4dc04f4221bbd2f4082262a6df1e6adb19db769b33e0c930edfaf5df585c9b7f?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4dc04f4221bbd2f4082262a6df1e6adb19db769b33e0c930edfaf5df585c9b7f?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4dc04f4221bbd2f4082262a6df1e6adb19db769b33e0c930edfaf5df585c9b7f?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Andrew</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-8355"><time datetime="2016-04-15T16:04:43+12:00">April 15, 2016 at 4:04 pm</time></a> </div> </footer> <div class="comment-content"> <p>Hey Michael when will Nz be free from the criminal cartel enslaving our people are we strong enough to get rid of the fiat currency and go back to a honest gold backed one!!!</p> <p id="comment-like-8355" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=8355&_wpnonce=ecd2b8a9bc" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-8355" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=8355#respond" data-commentid="8355" data-postid="1" data-belowelement="div-comment-8355" data-respondelement="respond" data-replyto="Reply to Andrew" aria-label="Reply to Andrew">Reply</a></div> </article> <ul class="children"> <li id="comment-25503" class="comment even depth-2 parent"> <article id="div-comment-25503" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Geoff. Waterhouse</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-25503"><time datetime="2018-06-05T13:26:57+12:00">June 5, 2018 at 1:26 pm</time></a> </div> </footer> <div class="comment-content"> <p>A very interesting question Andrew. I see tht there is no reply</p> <p id="comment-like-25503" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=25503&_wpnonce=7a253d9c2e" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-25503" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=25503#respond" data-commentid="25503" data-postid="1" data-belowelement="div-comment-25503" data-respondelement="respond" data-replyto="Reply to Geoff. Waterhouse" aria-label="Reply to Geoff. Waterhouse">Reply</a></div> </article> <ul class="children"> <li id="comment-25504" class="comment byuser comment-author-mhreddell bypostauthor odd alt depth-3"> <article id="div-comment-25504" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://croakingcassandra.com" class="url" rel="ugc">Michael Reddell</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-25504"><time datetime="2018-06-05T13:42:56+12:00">June 5, 2018 at 1:42 pm</time></a> </div> </footer> <div class="comment-content"> <p>I don’t recognise the description “criminal cartel enslaving our people” so didn’t consider it worth a substantive reply.</p> <p id="comment-like-25504" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=25504&_wpnonce=cf071c0330" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-25504" class="comment-like-feedback">Like</span></p> </div> </article> </li> <li id="comment-25510" class="comment even depth-3"> <article id="div-comment-25510" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/1a2a4724320806c7ce375b5ecd5641bc9f2b20d9f6fbb66571cd2ee2159086de?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Geoff. Waterhouse</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-25510"><time datetime="2018-06-05T16:33:23+12:00">June 5, 2018 at 4:33 pm</time></a> </div> </footer> <div class="comment-content"> <p>I would have thought that after what has come out of the Australian “Banking Commission” as it is commonly described, albeit innaccurately, it would have been fairly obvious, especially to someone with your background, to whom Andrew was referring. I think the result/outcome of the criminal cartel charges currently being brought against ANZ etc in Australia will give a further insight.</p> <p id="comment-like-25510" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=25510&_wpnonce=1d0633c33c" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-25510" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> </article> </li> </ul> </li> </ul> </li> <li id="comment-12157" class="comment odd alt thread-even depth-1 parent"> <article id="div-comment-12157" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/7000ce9bd503e7c8704027a382a36057315c1a42c37df3e010d702c5f0476e76?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/7000ce9bd503e7c8704027a382a36057315c1a42c37df3e010d702c5f0476e76?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/7000ce9bd503e7c8704027a382a36057315c1a42c37df3e010d702c5f0476e76?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/7000ce9bd503e7c8704027a382a36057315c1a42c37df3e010d702c5f0476e76?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/7000ce9bd503e7c8704027a382a36057315c1a42c37df3e010d702c5f0476e76?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/7000ce9bd503e7c8704027a382a36057315c1a42c37df3e010d702c5f0476e76?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Peter Winsley</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-12157"><time datetime="2016-12-15T13:08:18+13:00">December 15, 2016 at 1:08 pm</time></a> </div> </footer> <div class="comment-content"> <p>Brilliant blog Michael.</p> <p>Peter W</p> <p id="comment-like-12157" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=12157&_wpnonce=1f2ed34060" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-12157" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=12157#respond" data-commentid="12157" data-postid="1" data-belowelement="div-comment-12157" data-respondelement="respond" data-replyto="Reply to Peter Winsley" aria-label="Reply to Peter Winsley">Reply</a></div> </article> <ul class="children"> <li id="comment-12158" class="comment byuser comment-author-mhreddell bypostauthor even depth-2"> <article id="div-comment-12158" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://croakingcassandra.com" class="url" rel="ugc">Michael Reddell</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-12158"><time datetime="2016-12-15T13:30:27+13:00">December 15, 2016 at 1:30 pm</time></a> </div> </footer> <div class="comment-content"> <p>Thanks Peter</p> <p id="comment-like-12158" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=12158&_wpnonce=1b00f79167" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-12158" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=12158#respond" data-commentid="12158" data-postid="1" data-belowelement="div-comment-12158" data-respondelement="respond" data-replyto="Reply to Michael Reddell" aria-label="Reply to Michael Reddell">Reply</a></div> </article> </li> </ul> </li> <li id="comment-14271" class="pingback odd alt thread-odd thread-alt depth-1"> <article id="div-comment-14271" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <b class="fn"><a href="http://yournz.org/2017/04/26/how-mediocre-our-immigration-programme-has-actually-been/" class="url" rel="ugc external nofollow">“How mediocre our immigration programme has actually been” | Your NZ</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-14271"><time datetime="2017-04-26T06:47:35+12:00">April 26, 2017 at 6:47 am</time></a> </div> </footer> <div class="comment-content"> <p>[…] Croaking Cassandra blog (Economics, public policy, monetary policy, financial regulation, with a New Zealand perspective): About Michael Reddell: […]</p> <p id="comment-like-14271" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=14271&_wpnonce=eefe3c18b8" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-14271" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=14271#respond" data-commentid="14271" data-postid="1" data-belowelement="div-comment-14271" data-respondelement="respond" data-replyto="Reply to “How mediocre our immigration programme has actually been” | Your NZ" aria-label="Reply to “How mediocre our immigration programme has actually been” | Your NZ">Reply</a></div> </article> </li> <li id="comment-20559" class="comment even thread-even depth-1 parent"> <article id="div-comment-20559" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://2.gravatar.com/avatar/2a12ecf328adc8357e1bf1b831883747c578de12fa978150d0d4110f644927de?s=60&d=identicon&r=G' srcset='https://2.gravatar.com/avatar/2a12ecf328adc8357e1bf1b831883747c578de12fa978150d0d4110f644927de?s=60&d=identicon&r=G 1x, https://2.gravatar.com/avatar/2a12ecf328adc8357e1bf1b831883747c578de12fa978150d0d4110f644927de?s=90&d=identicon&r=G 1.5x, https://2.gravatar.com/avatar/2a12ecf328adc8357e1bf1b831883747c578de12fa978150d0d4110f644927de?s=120&d=identicon&r=G 2x, https://2.gravatar.com/avatar/2a12ecf328adc8357e1bf1b831883747c578de12fa978150d0d4110f644927de?s=180&d=identicon&r=G 3x, https://2.gravatar.com/avatar/2a12ecf328adc8357e1bf1b831883747c578de12fa978150d0d4110f644927de?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Michael Berkahn</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-20559"><time datetime="2017-11-26T09:38:57+13:00">November 26, 2017 at 9:38 am</time></a> </div> </footer> <div class="comment-content"> <p>Really enjoyed your comments on 1ZB this morning<br /> We should have been adding value to our raw materials for years<br /> Factories adding value to our resources great idea</p> <p id="comment-like-20559" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=20559&_wpnonce=bfa49cf765" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-20559" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=20559#respond" data-commentid="20559" data-postid="1" data-belowelement="div-comment-20559" data-respondelement="respond" data-replyto="Reply to Michael Berkahn" aria-label="Reply to Michael Berkahn">Reply</a></div> </article> <ul class="children"> <li id="comment-20579" class="comment byuser comment-author-mhreddell bypostauthor odd alt depth-2"> <article id="div-comment-20579" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://croakingcassandra.com" class="url" rel="ugc">Michael Reddell</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-20579"><time datetime="2017-11-27T08:41:40+13:00">November 27, 2017 at 8:41 am</time></a> </div> </footer> <div class="comment-content"> <p>Thanks</p> <p id="comment-like-20579" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=20579&_wpnonce=d18d04d089" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-20579" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=20579#respond" data-commentid="20579" data-postid="1" data-belowelement="div-comment-20579" data-respondelement="respond" data-replyto="Reply to Michael Reddell" aria-label="Reply to Michael Reddell">Reply</a></div> </article> </li> </ul> </li> <li id="comment-22695" class="pingback even thread-odd thread-alt depth-1"> <article id="div-comment-22695" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <b class="fn"><a href="http://moonlight.net.nz/michael-reddell-is-worried-about-the-emphasis-on-rail-projects-in-the-new-regional-development-strategies-defying-reason-and-evidence-in-an-effort-to-make-us-poorer-holding-bac" class="url" rel="ugc external nofollow">Michael Reddell is worried about the emphasis on rail projects in the new regional development strategies, defying reason and evidence in an effort to make us poorer, holding back national productivity prospects - Moonlight Chartered Accountants in Manuka</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-22695"><time datetime="2018-02-25T15:06:33+13:00">February 25, 2018 at 3:06 pm</time></a> </div> </footer> <div class="comment-content"> <p>[…] By Michael Reddell* […]</p> <p id="comment-like-22695" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=22695&_wpnonce=042d444c1e" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-22695" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=22695#respond" data-commentid="22695" data-postid="1" data-belowelement="div-comment-22695" data-respondelement="respond" data-replyto="Reply to Michael Reddell is worried about the emphasis on rail projects in the new regional development strategies, defying reason and evidence in an effort to make us poorer, holding back national productivity prospects - Moonlight Chartered Accountants in Manuka" aria-label="Reply to Michael Reddell is worried about the emphasis on rail projects in the new regional development strategies, defying reason and evidence in an effort to make us poorer, holding back national productivity prospects - Moonlight Chartered Accountants in Manuka">Reply</a></div> </article> </li> <li id="comment-22765" class="pingback odd alt thread-even depth-1"> <article id="div-comment-22765" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <b class="fn"><a href="http://cubic.co.nz/new-regional-development-strategies-defying-reason/" class="url" rel="ugc external nofollow">New regional development strategies "defying reason" - Cubic Transport Services</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-22765"><time datetime="2018-03-01T07:35:58+13:00">March 1, 2018 at 7:35 am</time></a> </div> </footer> <div class="comment-content"> <p>[…] By Michael Reddell* […]</p> <p id="comment-like-22765" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=22765&_wpnonce=d1a2c25b95" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-22765" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=22765#respond" data-commentid="22765" data-postid="1" data-belowelement="div-comment-22765" data-respondelement="respond" data-replyto="Reply to New regional development strategies "defying reason" - Cubic Transport Services" aria-label="Reply to New regional development strategies "defying reason" - Cubic Transport Services">Reply</a></div> </article> </li> <li id="comment-26949" class="pingback even thread-odd thread-alt depth-1"> <article id="div-comment-26949" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <b class="fn"><a href="http://www.ozkiwi2001.org/2017/05/backdoor-to-australia-again/" class="url" rel="ugc external nofollow">The backdoor to Australia – again - Oz Kiwi</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-26949"><time datetime="2018-08-14T18:40:39+12:00">August 14, 2018 at 6:40 pm</time></a> </div> </footer> <div class="comment-content"> <p>[…] Michael Reddell has spent 30+ years doing economic analysis and policy advice in a range of institutions, in New Zealand and overseas. Most of that time was at the Reserve Bank, including a spell as Head of Financial Markets, responsible for monetary policy implementation, foreign reserves management, and the analysis of financial system risks. He spent 25+ years on the (equivalent of the) OCR Advisory Group to the Governor, and many years on the Bank’s key internal financial regulation policy committee. […]</p> <p id="comment-like-26949" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=26949&_wpnonce=0b6b756077" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-26949" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=26949#respond" data-commentid="26949" data-postid="1" data-belowelement="div-comment-26949" data-respondelement="respond" data-replyto="Reply to The backdoor to Australia – again - Oz Kiwi" aria-label="Reply to The backdoor to Australia – again - Oz Kiwi">Reply</a></div> </article> </li> <li id="comment-28683" class="comment odd alt thread-even depth-1"> <article id="div-comment-28683" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://2.gravatar.com/avatar/23110262e6cd933ac35de2db9432ca03cd3a9ff3d32dc7ae79b6a295fc2bf72d?s=60&d=identicon&r=G' srcset='https://2.gravatar.com/avatar/23110262e6cd933ac35de2db9432ca03cd3a9ff3d32dc7ae79b6a295fc2bf72d?s=60&d=identicon&r=G 1x, https://2.gravatar.com/avatar/23110262e6cd933ac35de2db9432ca03cd3a9ff3d32dc7ae79b6a295fc2bf72d?s=90&d=identicon&r=G 1.5x, https://2.gravatar.com/avatar/23110262e6cd933ac35de2db9432ca03cd3a9ff3d32dc7ae79b6a295fc2bf72d?s=120&d=identicon&r=G 2x, https://2.gravatar.com/avatar/23110262e6cd933ac35de2db9432ca03cd3a9ff3d32dc7ae79b6a295fc2bf72d?s=180&d=identicon&r=G 3x, https://2.gravatar.com/avatar/23110262e6cd933ac35de2db9432ca03cd3a9ff3d32dc7ae79b6a295fc2bf72d?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Owen</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-28683"><time datetime="2018-10-19T13:34:48+13:00">October 19, 2018 at 1:34 pm</time></a> </div> </footer> <div class="comment-content"> <p>Hello Michael</p> <p>I have some relevant information for you but would prefer to communicate privately, at least initially.</p> <p>Owen</p> <p id="comment-like-28683" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=28683&_wpnonce=4dc4284165" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-28683" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=28683#respond" data-commentid="28683" data-postid="1" data-belowelement="div-comment-28683" data-respondelement="respond" data-replyto="Reply to Owen" aria-label="Reply to Owen">Reply</a></div> </article> </li> <li id="comment-31411" class="comment even thread-odd thread-alt depth-1 parent"> <article id="div-comment-31411" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/7e0f832ae7d740b078292074b03e5c82ae255b26b84859c97a1e0e26f608174b?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/7e0f832ae7d740b078292074b03e5c82ae255b26b84859c97a1e0e26f608174b?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/7e0f832ae7d740b078292074b03e5c82ae255b26b84859c97a1e0e26f608174b?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/7e0f832ae7d740b078292074b03e5c82ae255b26b84859c97a1e0e26f608174b?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/7e0f832ae7d740b078292074b03e5c82ae255b26b84859c97a1e0e26f608174b?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/7e0f832ae7d740b078292074b03e5c82ae255b26b84859c97a1e0e26f608174b?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Al Yates</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-31411"><time datetime="2018-12-30T13:02:10+13:00">December 30, 2018 at 1:02 pm</time></a> </div> </footer> <div class="comment-content"> <p>Hi Michael<br /> Enjoying your blogs. If there’s an email alert when they pop up please include me.<br /> Just read Aftershock by David Wiedemer 4th edition. What are your thoughts on the next economic event and if / when it arrives how will it compare to 2008. Wiedemer seems to think the next one will make 2008 look like a walk in the park</p> <p id="comment-like-31411" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=31411&_wpnonce=7034ba71b5" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-31411" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=31411#respond" data-commentid="31411" data-postid="1" data-belowelement="div-comment-31411" data-respondelement="respond" data-replyto="Reply to Al Yates" aria-label="Reply to Al Yates">Reply</a></div> </article> <ul class="children"> <li id="comment-31442" class="comment byuser comment-author-mhreddell bypostauthor odd alt depth-2"> <article id="div-comment-31442" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://croakingcassandra.com" class="url" rel="ugc">Michael Reddell</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-31442"><time datetime="2018-12-31T08:18:48+13:00">December 31, 2018 at 8:18 am</time></a> </div> </footer> <div class="comment-content"> <p>There is a sign-up box to get posts by email on the right hand side of the main blog page.</p> <p>Re the next crisis, my main concern is the lack of scope for policy responses this time round. Interest rates are already extremely low, and in many countries there isn’t much fiscal capacity either, so whatever triggers the next severe recession it will be very difficult to get out of it again (risks only exacerbated by euro-area breakup risk).</p> <p id="comment-like-31442" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=31442&_wpnonce=6007b98161" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-31442" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=31442#respond" data-commentid="31442" data-postid="1" data-belowelement="div-comment-31442" data-respondelement="respond" data-replyto="Reply to Michael Reddell" aria-label="Reply to Michael Reddell">Reply</a></div> </article> </li> </ul> </li> <li id="comment-32926" class="comment even thread-even depth-1 parent"> <article id="div-comment-32926" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=60&d=identicon&r=G' srcset='https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=60&d=identicon&r=G 1x, https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=90&d=identicon&r=G 1.5x, https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=120&d=identicon&r=G 2x, https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=180&d=identicon&r=G 3x, https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Iain Haggarty</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-32926"><time datetime="2019-02-07T08:54:57+13:00">February 7, 2019 at 8:54 am</time></a> </div> </footer> <div class="comment-content"> <p>Bookmarked your page some time ago and have enjoyed reading it this morning. I have a question about national productivity. Does the unemployment rate affect is included in national productivity measures? if so the recent increase in those drawing benefit and our relatively high unemployment rate would have a negative effect. Appreciate if you could conform my understanding.</p> <p id="comment-like-32926" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=32926&_wpnonce=b44340941c" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-32926" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=32926#respond" data-commentid="32926" data-postid="1" data-belowelement="div-comment-32926" data-respondelement="respond" data-replyto="Reply to Iain Haggarty" aria-label="Reply to Iain Haggarty">Reply</a></div> </article> <ul class="children"> <li id="comment-32929" class="comment byuser comment-author-mhreddell bypostauthor odd alt depth-2 parent"> <article id="div-comment-32929" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://croakingcassandra.com" class="url" rel="ugc">Michael Reddell</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-32929"><time datetime="2019-02-07T09:01:06+13:00">February 7, 2019 at 9:01 am</time></a> </div> </footer> <div class="comment-content"> <p>The productivity measure I’m using here is mostly real Gross Domestic Product per hour worked. The unemployment rate itself won’t materially or directly affect those estimates, although there is an argument that if the unemployment rate drops very low relatively unproductive workers will be the last people drawn into jobs, which might slightly lower average measured productivity.</p> <p>The official unemployment rate – latest numbers out this morning – is measured through a survey (the HLFS) with some highly specific questions (about how actively someone is seeking work), while the benefit numbers can be affected simply by changes in welfare rules. So far there has been no sign of a rise in the official unemployment rate.</p> <p id="comment-like-32929" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=32929&_wpnonce=bde2f40936" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-32929" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=32929#respond" data-commentid="32929" data-postid="1" data-belowelement="div-comment-32929" data-respondelement="respond" data-replyto="Reply to Michael Reddell" aria-label="Reply to Michael Reddell">Reply</a></div> </article> <ul class="children"> <li id="comment-32984" class="comment even depth-3 parent"> <article id="div-comment-32984" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=60&d=identicon&r=G' srcset='https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=60&d=identicon&r=G 1x, https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=90&d=identicon&r=G 1.5x, https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=120&d=identicon&r=G 2x, https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=180&d=identicon&r=G 3x, https://0.gravatar.com/avatar/0371d9ed161551328b965df4cd0cdd6526dda7c88c95c8c7bbdb0d4c51893cab?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Iain Haggarty</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-32984"><time datetime="2019-02-08T08:47:52+13:00">February 8, 2019 at 8:47 am</time></a> </div> </footer> <div class="comment-content"> <p>Thanks Michael. If this is a standard way of measuring productivity, can you point me to some studies or posts that explain why it is so low in NZ?<br /> Cheers.</p> <p id="comment-like-32984" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=32984&_wpnonce=a51749d68e" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-32984" class="comment-like-feedback">Like</span></p> </div> </article> </li> <li id="comment-32985" class="comment byuser comment-author-mhreddell bypostauthor odd alt depth-3"> <article id="div-comment-32985" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://croakingcassandra.com" class="url" rel="ugc">Michael Reddell</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-32985"><time datetime="2019-02-08T08:51:29+13:00">February 8, 2019 at 8:51 am</time></a> </div> </footer> <div class="comment-content"> <p>This speech will give you a good intro to my story</p> <p><a href="https://croakingcassandra.files.wordpress.com/2017/09/large-scale-non-citizen-immigration-to-new-zealand-is-making-us-poorer-mana-u3a-sept-2017.pdf" target="_blank" rel="noopener noreferrer nofollow">Click to access large-scale-non-citizen-immigration-to-new-zealand-is-making-us-poorer-mana-u3a-sept-2017.pdf</a></p> <p>Probably the best other story – which overlaps with mine, especially around immigration – is by Paul Conway, until recently head of research at the Productivity Commission<br /> <a href="https://www.productivity.govt.nz/research-paper/can-the-kiwi-fly-achieving-productivity-lift-off-in-new-zealand" rel="nofollow ugc">https://www.productivity.govt.nz/research-paper/can-the-kiwi-fly-achieving-productivity-lift-off-in-new-zealand</a></p> <p id="comment-like-32985" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=32985&_wpnonce=7cf4c2bc8e" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-32985" class="comment-like-feedback">Like</span></p> </div> </article> </li> </ul> </li> </ul> </li> <li id="comment-37492" class="comment byuser comment-author-contrafedpublishing even thread-odd thread-alt depth-1"> <article id="div-comment-37492" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/d534ef9c04c058d1cd6a72a249ad148222c056f0730e57b122451e7e75ac007f?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/d534ef9c04c058d1cd6a72a249ad148222c056f0730e57b122451e7e75ac007f?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/d534ef9c04c058d1cd6a72a249ad148222c056f0730e57b122451e7e75ac007f?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/d534ef9c04c058d1cd6a72a249ad148222c056f0730e57b122451e7e75ac007f?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/d534ef9c04c058d1cd6a72a249ad148222c056f0730e57b122451e7e75ac007f?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/d534ef9c04c058d1cd6a72a249ad148222c056f0730e57b122451e7e75ac007f?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://contractormagazine.wordpress.com" class="url" rel="ugc external nofollow">ContrafedPublishing</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-37492"><time datetime="2019-05-08T21:21:14+12:00">May 8, 2019 at 9:21 pm</time></a> </div> </footer> <div class="comment-content"> <p>Hi Michael,<br /> I have just discovered your blog- and look forward to following your posts. cheers Charles Fairbairn, NZ Local Government mag.</p> <p id="comment-like-37492" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=37492&_wpnonce=288c81cfd8" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-37492" class="comment-like-feedback">Liked by <a href="#" class="view-likers" data-like-count="1">1 person</a></span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=37492#respond" data-commentid="37492" data-postid="1" data-belowelement="div-comment-37492" data-respondelement="respond" data-replyto="Reply to ContrafedPublishing" aria-label="Reply to ContrafedPublishing">Reply</a></div> </article> </li> <li id="comment-70904" class="comment odd alt thread-even depth-1"> <article id="div-comment-70904" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://0.gravatar.com/avatar/f9459f5d33b1fab4cbf7d78cef89f698c84f54066c3a330a1e4b8773a3757093?s=60&d=identicon&r=G' srcset='https://0.gravatar.com/avatar/f9459f5d33b1fab4cbf7d78cef89f698c84f54066c3a330a1e4b8773a3757093?s=60&d=identicon&r=G 1x, https://0.gravatar.com/avatar/f9459f5d33b1fab4cbf7d78cef89f698c84f54066c3a330a1e4b8773a3757093?s=90&d=identicon&r=G 1.5x, https://0.gravatar.com/avatar/f9459f5d33b1fab4cbf7d78cef89f698c84f54066c3a330a1e4b8773a3757093?s=120&d=identicon&r=G 2x, https://0.gravatar.com/avatar/f9459f5d33b1fab4cbf7d78cef89f698c84f54066c3a330a1e4b8773a3757093?s=180&d=identicon&r=G 3x, https://0.gravatar.com/avatar/f9459f5d33b1fab4cbf7d78cef89f698c84f54066c3a330a1e4b8773a3757093?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Dennis Frank</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-70904"><time datetime="2021-11-12T16:07:49+13:00">November 12, 2021 at 4:07 pm</time></a> </div> </footer> <div class="comment-content"> <p>Hi there Michael,</p> <p>I wonder if you could do an appraisal of the govt’s new green bond scheme – particularly to inform us how the RB would be likely to manage it, and any implications for our currency & foreign trade. I presume the Treasury’s role is more design than operational?</p> <p>For context, here’s what I wrote on The Standard earlier, quoting today’s Herald report…</p> <p>Govt inserts Green lever into the economy:</p> <p> The Government will soon be issuing sovereign “green bonds” to help raise finance towards a move to a low-carbon economy. Green bonds, which provide financing for low-emission or environmental projects such as renewable energy or reforestation, have increasingly become part of climate financing around the world.</p> <p> Last year, the global green bond market reached a cumulative issuance milestone of US$1 trillion since its inception in 2007 – a year before the World Bank began issuing them.</p> <p> Money raised from the bonds would be used to support projects that help reach the net-zero carbon 2050 target the Government has set with legislation. “Green bonds will enhance the development of New Zealand’s sustainable finance market,” Finance Minister Grant Robertson said.</p> <p> <a href="https://www.nzherald.co.nz/nz/climate-change-nz-to-issue-green-bonds-to-help-decarbonise/KY5V3H46G3FLI6F2VRUNAHM5ZU/" rel="nofollow ugc">https://www.nzherald.co.nz/nz/climate-change-nz-to-issue-green-bonds-to-help-decarbonise/KY5V3H46G3FLI6F2VRUNAHM5ZU/</a> </p> <p>This strikes me as a substantial shift away from greenwash.</p> <p> “The creation of a green bond programme will add a new financing tool we can use to deliver the low-carbon projects we need to meet our climate targets,” Climate Change Minister James Shaw said.</p> <p> “Something in the order of 80 per cent of the global economy is now covered by some form of net-zero target. To meet these targets and cut emissions in line with what the science requires, capital needs to be directed towards activity that will accelerate the transition to a low-carbon economy. Green bonds will be a crucial part of that.”</p> <p> New Zealand Debt Management at the Treasury is leading work on the green bond programme. </p> <p>So what we seem to have here is both design and enforcement method. Time will tell if the combo actually works – but it does promise a morphing effect, away from neoliberalism towards sustainability.</p> <p id="comment-like-70904" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=70904&_wpnonce=b414f5de32" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-70904" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=70904#respond" data-commentid="70904" data-postid="1" data-belowelement="div-comment-70904" data-respondelement="respond" data-replyto="Reply to Dennis Frank" aria-label="Reply to Dennis Frank">Reply</a></div> </article> </li> <li id="comment-74282" class="pingback even thread-odd thread-alt depth-1"> <article id="div-comment-74282" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <b class="fn"><a href="https://www.podcasts.nz/219706-2/" class="url" rel="ugc external nofollow">- Podcasts NZ: New Zealand Podcasts</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-74282"><time datetime="2022-06-26T17:42:47+12:00">June 26, 2022 at 5:42 pm</time></a> </div> </footer> <div class="comment-content"> <p>[…] guest in this episode is Michael Reddell and he’s spent over 30 years doing economic analysis and policy advice at various places […]</p> <p id="comment-like-74282" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=74282&_wpnonce=bce0b8ef6d" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-74282" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=74282#respond" data-commentid="74282" data-postid="1" data-belowelement="div-comment-74282" data-respondelement="respond" data-replyto="Reply to - Podcasts NZ: New Zealand Podcasts" aria-label="Reply to - Podcasts NZ: New Zealand Podcasts">Reply</a></div> </article> </li> <li id="comment-80537" class="comment odd alt thread-even depth-1 parent"> <article id="div-comment-80537" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://0.gravatar.com/avatar/9141e7d613b6dcd523c67a69a65406cf77fb800fc0ac85f50d6a06946bcbb78a?s=60&d=identicon&r=G' srcset='https://0.gravatar.com/avatar/9141e7d613b6dcd523c67a69a65406cf77fb800fc0ac85f50d6a06946bcbb78a?s=60&d=identicon&r=G 1x, https://0.gravatar.com/avatar/9141e7d613b6dcd523c67a69a65406cf77fb800fc0ac85f50d6a06946bcbb78a?s=90&d=identicon&r=G 1.5x, https://0.gravatar.com/avatar/9141e7d613b6dcd523c67a69a65406cf77fb800fc0ac85f50d6a06946bcbb78a?s=120&d=identicon&r=G 2x, https://0.gravatar.com/avatar/9141e7d613b6dcd523c67a69a65406cf77fb800fc0ac85f50d6a06946bcbb78a?s=180&d=identicon&r=G 3x, https://0.gravatar.com/avatar/9141e7d613b6dcd523c67a69a65406cf77fb800fc0ac85f50d6a06946bcbb78a?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn">Rodger Smith</b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-80537"><time datetime="2023-07-27T16:09:41+12:00">July 27, 2023 at 4:09 pm</time></a> </div> </footer> <div class="comment-content"> <p>Saw some of your comments on Twitter (or X now) about recent wealth tax proposal including latest from Māori Party with top rate of 8%. What are your thoughts about FIF which acts like a kind of wealth tax at 2% for foreign investments above $50k? Should it be repealed or replaced with something else? Is it holding back attracting new high-skilled migrants?</p> <p id="comment-like-80537" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=80537&_wpnonce=46acbfd1e4" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-80537" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=80537#respond" data-commentid="80537" data-postid="1" data-belowelement="div-comment-80537" data-respondelement="respond" data-replyto="Reply to Rodger Smith" aria-label="Reply to Rodger Smith">Reply</a></div> </article> <ul class="children"> <li id="comment-80542" class="comment byuser comment-author-mhreddell bypostauthor even depth-2"> <article id="div-comment-80542" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <img alt='' src='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G' srcset='https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=60&d=identicon&r=G 1x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=90&d=identicon&r=G 1.5x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=120&d=identicon&r=G 2x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=180&d=identicon&r=G 3x, https://1.gravatar.com/avatar/4e9bc938efe9ab4b4854db88ffa70e46b4a0d44ec66977f1873cde45fca5dabe?s=240&d=identicon&r=G 4x' class='avatar avatar-60' height='60' width='60' loading='lazy' decoding='async' /> <b class="fn"><a href="http://croakingcassandra.com" class="url" rel="ugc">Michael Reddell</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-80542"><time datetime="2023-07-27T21:11:03+12:00">July 27, 2023 at 9:11 pm</time></a> </div> </footer> <div class="comment-content"> <p>I don’t have a strong view, altho it is supposed to proxy an (average) income tax rather than a wealth tax(a wealth tax would be on top of the FIF). I’d be a little surprised if it was a particularly important issue re high skilled migrants as typically we would probably be targeting on fairly young migrants who prob won’t have large financial assets abroad, at least after buying an overpriced NZ house.</p> <p id="comment-like-80542" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=80542&_wpnonce=c546a42bf9" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-80542" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=80542#respond" data-commentid="80542" data-postid="1" data-belowelement="div-comment-80542" data-respondelement="respond" data-replyto="Reply to Michael Reddell" aria-label="Reply to Michael Reddell">Reply</a></div> </article> </li> </ul> </li> <li id="comment-82180" class="pingback odd alt thread-odd thread-alt depth-1"> <article id="div-comment-82180" class="comment-body"> <footer class="comment-meta"> <div class="comment-author vcard"> <b class="fn"><a href="https://realitycheck.radio/the-dialogue-michael-reddell-economist-on-the-economic-components-of-new-zealands-immigration-policy/" class="url" rel="ugc external nofollow">THE DIALOGUE: MICHAEL REDDELL: Economist: On The Economic Components Of New Zealand's Immigration Policy - Reality Check Radio</a></b> <span class="says">says:</span> </div> <div class="comment-metadata"> <a href="https://croakingcassandra.com/about/#comment-82180"><time datetime="2024-02-23T20:25:28+13:00">February 23, 2024 at 8:25 pm</time></a> </div> </footer> <div class="comment-content"> <p>[…] croakingcassandra.com […]</p> <p id="comment-like-82180" data-liked=comment-not-liked class="comment-likes comment-not-liked"><a href="https://croakingcassandra.com/about/?like_comment=82180&_wpnonce=11bcf683cc" class="comment-like-link needs-login" rel="nofollow" data-blog="85004741"><span>Like</span></a><span id="comment-like-count-82180" class="comment-like-feedback">Like</span></p> </div> <div class="reply"><a rel="nofollow" class="comment-reply-link" href="https://croakingcassandra.com/about/?replytocom=82180#respond" data-commentid="82180" data-postid="1" data-belowelement="div-comment-82180" data-respondelement="respond" data-replyto="Reply to THE DIALOGUE: MICHAEL REDDELL: Economist: On The Economic Components Of New Zealand's Immigration Policy - Reality Check Radio" aria-label="Reply to THE DIALOGUE: MICHAEL REDDELL: Economist: On The Economic Components Of New Zealand's Immigration Policy - Reality Check Radio">Reply</a></div> </article> </li> </ol> </div> <div id="respond" class="comment-respond"> <h3 id="reply-title" class="comment-reply-title">Leave a comment <small><a rel="nofollow" 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