New Zealand Institute of Economic Research

New Zealand Institute of Economic Research
Name	New Zealand Institute of Economic Research
Abbrev	NZIER
Formation	1958
Type	Think tank
Headquarters	Wellington, Auckland
Region served	New Zealand
Leader title	Chief Executive

New Zealand Institute of Economic Research is an independent policy research organisation established in 1958 that provides applied economic analysis and forecasting for public and private sector clients across Aotearoa New Zealand. It produces reports, models, and commentary that inform decision-making by Parliament of New Zealand, Reserve Bank of New Zealand, regional councils such as Auckland Council, and private firms including multinational Fonterra Co-operative Group and Air New Zealand. The institute combines macroeconomic modelling, industry studies, and policy evaluation to contribute to debates around taxation, trade, and labour markets affecting stakeholders from Manawatu District to Canterbury Region.

History

Founded in 1958 by a group of economists and business figures in Wellington, the institute emerged amid postwar planning debates that involved actors such as New Zealand Loan and Mercantile Agency Company and advisory bodies modelled on overseas organisations like the National Bureau of Economic Research and Institute for Fiscal Studies. Early work focused on forecasting commodity prices relevant to exporters such as New Zealand Dairy Board and on productivity issues that intersected with unions including the New Zealand Council of Trade Unions. Across the 1970s and 1980s the institute analysed reforms associated with the Rogernomics era and engaged with institutional actors including the Treasury (New Zealand) and the Commerce Commission (New Zealand), shaping technical advice during episodes like the deregulation of the New Zealand Post Office and the float of the New Zealand dollar.

Organisation and Governance

The institute operates as a private, not-for-profit organisation with a board of directors drawn from leaders in sectors such as finance, academia, and law, including figures affiliated with institutions like University of Auckland, Victoria University of Wellington, and firms linked to ANZ Group (Australia and New Zealand Banking Group) and BNZ. Its executive leadership has included chief executives and research directors who previously held roles at the Reserve Bank of New Zealand, Statistics New Zealand, and overseas think tanks such as the Brookings Institution and Centre for Economic Policy Research. Governance structures involve an advisory council that interfaces with entities like Ministry of Business, Innovation and Employment (New Zealand) and local authorities including Christchurch City Council.

Research and Publications

The institute publishes regular bulletins, working papers, and forecast updates that draw upon macroeconomic models, input-output tables, and sectoral analysis covering industries such as forestry linked to Fletcher Building, agriculture associated with Zespri Group Limited, and tourism exemplified by Tourism New Zealand. Signature outputs include quarterly forecasts cited by the Reserve Bank of New Zealand and fiscal assessments referenced in submissions to Select committees of the New Zealand Parliament. Publications appear under titles resembling working papers that have been used by academics at Massey University, University of Canterbury, and policy analysts from OECD and International Monetary Fund. The institute also maintains datasets used in comparative studies involving Australia, United Kingdom, and United States institutions.

Policy Influence and Advising

Through commissioned research and public submissions, the institute has advised on tax policy debates involving legislation like the Taxation (Example) Act and infrastructure investment discussions relating to projects similar to the Auckland Harbour Bridge upgrades and national transport strategies overseen by New Zealand Transport Agency. It has provided cost‑benefit analysis for regional development initiatives in collaboration with bodies such as Local Government New Zealand and contributed evidence to inquiries by the Environment Court of New Zealand on resource allocation matters. The institute’s commentary has informed media outlets and parliamentary inquiries alongside contributions from other policy groups such as the New Zealand Initiative and the BusinessNZ.

Funding and Financial Model

The organisation’s revenue model combines commissioned research contracts from corporations like Meridian Energy and public entities including ministries and councils, subscription services used by financial institutions like Westpac New Zealand Limited, and revenue from conferences and training workshops attended by professionals from Kiwibank and legal firms. It operates as a not-for-profit entity reinvesting surplus into research capacity, while maintaining client confidentiality to serve both private sector clients such as exporters and public-sector commissioners including agencies modeled on Accident Compensation Corporation and Ministry of Health (New Zealand).

Partnerships and Collaborations

The institute partners with academic departments at University of Otago, Lincoln University (New Zealand), and international centres such as the Asian Development Bank and World Bank on applied research projects, and collaborates with specialist consultancies and law firms engaged with entities like Fisher & Paykel Healthcare and Spark New Zealand. Collaborative projects have included networked forecasting exercises with central banks including Reserve Bank of Australia and joint workshops with policy networks such as Policy Exchange and regional research bodies in the Pacific Islands Forum.

Awards and Recognition

Researchers associated with the institute have been recognised through appointments and awards, including fellowships at universities like University of Waikato and visiting scholar positions at the London School of Economics, and have contributed to prize-winning policy reports acknowledged by institutions such as Royal Society Te Apārangi and business awards that feature participants from New Zealand Herald-listed firms. The institute’s forecasts and analyses are routinely cited in honours lists, academic citations, and media coverage that reflect its standing among think tanks in Auckland and Wellington.

Category:Think tanks based in New Zealand