{"id":"https://openalex.org/W1506054148","doi":null,"title":"An optimal inflation target for New Zealand: lessons from the literature","display_name":"An optimal inflation target for New Zealand: lessons from the literature","publication_year":2002,"publication_date":"2002-01-01","ids":{"openalex":"https://openalex.org/W1506054148","mag":"1506054148"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:nzb:nzbbul:september2002:1","doi":null,"is_oa":false,"landing_page_url":"http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2002/2002sep65-3BrookKaragedikliScrimgeour.pdf","pdf_url":"http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2002/2002sep65-3BrookKaragedikliScrimgeour.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5087138915","display_name":"Anne-Marie Brook","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Anne-Marie Brook","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5080231038","display_name":"\u00d6zer Karagedikli","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"\u00d6zer Karagedikli","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5048396051","display_name":"Dean Scrimgeour","orcid":"https://orcid.org/0009-0009-9115-4294","observed_orcids":["https://orcid.org/0009-0009-9115-4294"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Dean Scrimgeour","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0009-0009-9115-4294","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.0718,"has_fulltext":false,"cited_by_count":8,"citation_normalized_percentile":{"value":0.90572493,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":93},"biblio":{"volume":"65","issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.0,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.0,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/optimal-inflation-target","display_name":"optimal inflation target","score":0.9350000023841858},{"id":"https://openalex.org/keywords/inflation-and-economic-growth","display_name":"inflation and economic growth","score":0.8669999837875366},{"id":"https://openalex.org/keywords/new-zealand","display_name":"New Zealand","score":0.5130000114440918},{"id":"https://openalex.org/keywords/central-bank-policy","display_name":"central bank policy","score":0.5950000286102295},{"id":"https://openalex.org/keywords/deflation","display_name":"deflation","score":0.7440000176429749},{"id":"https://openalex.org/keywords/zero-inflation","display_name":"excess zeros","score":0.4560000002384186},{"id":"https://openalex.org/keywords/sustainable-growth","display_name":"sustainable growth","score":0.44999998807907104}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8093858957290649},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.7915274500846863},{"id":"https://openalex.org/C8112001","wikidata":"https://www.wikidata.org/wiki/Q161081","display_name":"Deflation","level":3,"score":0.7482261657714844},{"id":"https://openalex.org/C2777526511","wikidata":"https://www.wikidata.org/wiki/Q691543","display_name":"Pace","level":2,"score":0.7460438013076782},{"id":"https://openalex.org/C2780253743","wikidata":"https://www.wikidata.org/wiki/Q132382","display_name":"Presumption","level":2,"score":0.6593348979949951},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.55744868516922},{"id":"https://openalex.org/C154815372","wikidata":"https://www.wikidata.org/wiki/Q1140421","display_name":"Real interest rate","level":3,"score":0.5438171029090881},{"id":"https://openalex.org/C185824701","wikidata":"https://www.wikidata.org/wiki/Q1193759","display_name":"Inflation targeting","level":3,"score":0.5152952671051025},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.4594060480594635},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.4558722674846649},{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.3768383264541626},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.35795146226882935},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.06789472699165344},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0},{"id":"https://openalex.org/C13280743","wikidata":"https://www.wikidata.org/wiki/Q131089","display_name":"Geodesy","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:RePEc:nzb:nzbbul:september2002:1","doi":null,"is_oa":false,"landing_page_url":"http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2002/2002sep65-3BrookKaragedikliScrimgeour.pdf","pdf_url":"http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2002/2002sep65-3BrookKaragedikliScrimgeour.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"mag:1506054148","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/RePEc:nzb:nzbbul:september2002:1","pdf_url":null,"source":{"id":"https://openalex.org/S2764700405","display_name":"Reserve Bank of New Zealand Bulletin","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Reserve Bank of New Zealand Bulletin","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":27,"referenced_works":["https://openalex.org/W124961960","https://openalex.org/W1483612348","https://openalex.org/W1499444232","https://openalex.org/W1511287027","https://openalex.org/W1574015943","https://openalex.org/W1969967233","https://openalex.org/W1971941534","https://openalex.org/W1978949361","https://openalex.org/W1988995432","https://openalex.org/W1994387295","https://openalex.org/W1994750005","https://openalex.org/W2013963437","https://openalex.org/W2053760223","https://openalex.org/W2055234499","https://openalex.org/W2077487325","https://openalex.org/W2095835867","https://openalex.org/W2138898503","https://openalex.org/W2144089772","https://openalex.org/W2148868269","https://openalex.org/W2156993613","https://openalex.org/W3121227679","https://openalex.org/W3121476445","https://openalex.org/W3122050005","https://openalex.org/W3124735398","https://openalex.org/W3124922533","https://openalex.org/W3125227899","https://openalex.org/W3125426360"],"related_works":["https://openalex.org/W2889908090","https://openalex.org/W2124928559","https://openalex.org/W7097234301","https://openalex.org/W2166316756","https://openalex.org/W4411641178","https://openalex.org/W7110572819","https://openalex.org/W7098621045","https://openalex.org/W3195050558","https://openalex.org/W3045476124","https://openalex.org/W2156148707"],"abstract_inverted_index":{"In":[0],"this":[1,125,183],"article":[2],"we":[3,132,149],"summarise":[4],"the":[5,10,26,37,59,66,74,129,135,162,168,187],"recent":[6],"economic":[7,31],"literature":[8,97],"on":[9,128,190],"relationship":[11,38],"between":[12,39],"inflation":[13,19,40,75,87,111,155,164],"and":[14,41,104,178],"growth,":[15],"to":[16,44,70,91,123,174],"assess":[17],"what":[18],"target":[20,112],"might":[21],"be":[22,45,71],"most":[23],"consistent":[24],"with":[25,121],"fastest":[27],"pace":[28],"of":[29,50,56,73,81,137,154,182],"sustainable":[30],"growth.":[32,92],"One":[33],"conclusion":[34],"is":[35,84,94,117],"that":[36,86,134,151],"growth":[42,67],"seems":[43,69],"different":[46,48],"at":[47,78],"rates":[49,55,80,153],"inflation.":[51],"At":[52],"very":[53],"low":[54],"inflation,":[57,82],"including":[58,107],"0":[60],"-":[61],"3":[62],"per":[63],"cent":[64],"range,":[65],"rate":[68],"independent":[72],"rate.":[76],"But":[77],"higher":[79],"there":[83,116],"evidence":[85],"does":[88],"significant":[89],"damage":[90],"There":[93],"some":[95],"theoretical":[96,130],"which":[98,122],"cautions":[99],"central":[100],"banks":[101],"against":[102,106],"deflation,":[103],"therefore":[105],"zero":[108],"in":[109,142,156,186],"an":[110],"range.":[113],"As":[114],"yet":[115],"little":[118],"data":[119],"available":[120],"test":[124],"presumption.":[126],"Based":[127],"arguments,":[131],"conclude":[133,150],"risks":[136],"New":[138,157],"Zealand":[139,158],"being":[140],"caught":[141],"a":[143,176],"deflationary":[144],"trap":[145],"are":[146],"low.":[147],"Overall,":[148],"average":[152],"have":[159],"been":[160],"within":[161],"`optimal":[163],"range'":[165],"suggested":[166],"by":[167],"literature.":[169],"Interested":[170],"readers":[171],"may":[172],"wish":[173],"consult":[175],"longer":[177],"more":[179],"comprehensive":[180],"version":[181],"paper,":[184],"contained":[185],"Bank's":[188],"publication":[189],"PTA":[191],"related":[192],"issues.":[193]},"counts_by_year":[{"year":2023,"cited_by_count":1},{"year":2014,"cited_by_count":1}],"updated_date":"2026-09-29T14:09:16.559479","created_date":"2016-06-24T00:00:00"}
