Reserve Bank of New Zealand publish an 'analytical note' on their website)
- estimate of NAIRU is 4.7%
- estimate of natural rate is around 5%
The latest u/e rate from NZ (published by the Stats people there) is 4.5% ... so I reckon this paper might indicate the next move in rates from RBNZ is up (which is pretty much what's expected anyway) ... that's if the paper has any impact on policy at all.
Oh ... the link to the text is below, the link is to a bit of a summary (the full PDF is available too if you are interested) - the summary is a quick read an worth a scan through, IMO.
full text is here: Estimating the NAIRU and the Natural Rate of Unemployment for New Zealand
