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Merry Christmas fine people! So it is Christmas. How about this year I don’t: Make the case for why we should give cash instead of gift. Warn about not undertaking time inconsistent behaviour on Christmas day. Honestly, I used to do the same thing every year. My way of precommiting to that was to time […]
Over at Worthwhile Canadian Initiative, Nick Rowe bemoans the fact that economists keep ignoring the “very short run”, and the transition from that to the short-run. In the very short-run, we may view a shock (an increase in demand) and interpret as noise – it is only when the shock persists that we may respond. […]
We wrote about the milk price investigation here, all very exciting. However, a new article on the stuff site started with this: Dairy market heavyweight Fonterra is artificially inflating the price of milk in New Zealand in a deliberate campaign to lessen competition What? This is beyond my understanding – I need someone to get […]
There is talk about the Commerce Commission investigating milk prices in New Zealand. An interesting passage from this piece states: At the moment, we basically have a monopoly supplier of milk and two supermarkets selling it,” she said. “I think an inquiry could be a really good thing for consumers. I think this is a […]
The cost of a barrel of oil is down to $35US and the exchange rate is loitering around $1NZ=$0.52US. Why is fuel at $1.63? A rough and ready look at the numbers suggests approximately $1.40 to me – although with a big error band (Note: less than 20c though). The rumours I’ve heard are: Refiners […]
Yesterday I said that I thought the Bank’s speech on bringing down the price level was ridiculous. Not only is asking for a decline in prices a strange thing for a central bank to do, the mentioning of “oil companies” was slightly off the mark – given that they have slashed prices in the face […]