ECONOMICS FOR REAL PEOPLE: Reserve Bank, cause or cure … ?
Here’s the note from our friends at the UoA Economics Group for their talk tomorrow evening:
This week we have Rodney Dickens coming to speak to us further about the role the Central Bank plays in the Business Cycle. Rodney Dickens is the former head of Research at ASB Bank and has been a member of the RBNZs Monetary Policy Committee. He is now the Managing Director of Strategic Research Analysis and brings a unique perspective on how the market operates from his 25 years experience working as as an Economist.
In a recent media release he showed how lowering the OCR during the early 2000's created the boom bust property cycle. [Some reaction to his media release here.] While this created short-term employment for those in the building industry, it ultimately left many people out of pocket, as over 50 different finance companies collapsed and billions of dollars in investments were lost. As markets around the world continue to struggle, come and hear an interesting perspective on how this story began.
Date: Tuesday 9th August
Location: Case Room One, Level 0, UOA Business School
Please note the change of time for this week to 7pm. Look forward to seeing you there