2 results for Aitken, Andrew

  • The long-run impact of New Zealand’s structural reform on local communities

    Stillman, Steven; Velamuri, Malathi; Aitken, Andrew (2010)

    Journal article
    University of Waikato

    New Zealand underwent a period of comprehensive market-oriented economic reforms from 1984 to 1993. In this paper, we use data from the 1986, 1991, 1996 and 2001 New Zealand census to examine the long-run impact that these reforms had on local communities. We analyse the adjustment process in 140 local labour market areas by creating three measures of the impact of structural reform on local communities and examining the persistence of these shocks over time. We find that communities which experienced smaller employment shocks have higher employment rates and a more skilled workforce in the medium and long-term. Population shocks also have positive, sizeable and persistent effect on future population size. Overall, the initial impacts of the reforms undertaken in New Zealand on local communities appear to still endure more than a decade later.

    View record details
  • Housing supply, land costs and price adjustment

    Grimes, Arthur; Aitken, Andrew (2009)

    Journal article
    University of Waikato

    We analyze relationships between housing supply elasticities, land costs and house price dynamics, contributing three main insights. First, higher housing supply elasticities help contain short-run price spikes following demand shocks. Second, land price dynamics influence this relationship; supply responses are lessened and house price spikes are exacerbated as land prices increase. Third, we estimate a system of regional equations modeling housing supply using a Tobin's-q specification (incorporating construction and land costs) and show that regional price dynamics are a function of the region's supply elasticity.

    View record details