New Zealand has entered recession ahead of other OECD countries, a victim of simultaneous domestic and foreign shocks. The outlook remains subdued because the large macroeconomic imbalances built up over the past decade–inflation, housing overvaluation, high household debt and a huge current account deficit–will take some time to unwind.

The United Nations Framework Convention on Climate Change Conference in Bali in December 2007 was high in political stakes as well as emotion. But did it produce a result and what more might be done? New Zealand’s climate change ambassador offers his views.

Activity so far in 2007 has picked up markedly in a context of unprecedented high prices for New Zealand’s major commodity exports, maintaining pressure on resources and inflation. Monetary conditions have been tightened, while domestic risk spreads have widened in conjunction with the international financial market turbulence. These factors should cause growth to slow over the near term, allowing a moderation of inflation and eventual monetary easing.

Choosing the career track versus the family track is a personal choice that has become a global concern. Family-friendly policies are essential, says Babies and Bosses - Reconciling Work and Family Life, not only to promote child development and family wellbeing, but to reduce poverty, underpin productivity and bolster employment in our ageing societies.