This report provides a summary of the monetary and fiscal policies enacted in Australia that were aimed at stabilising the domestic economy during the COVID-19 pandemic.

The authors of this report argue that to successfully undertake its mandate, the Monetary Policy Committee of the Reserve Bank of New Zealand will need to take a view on the current and future effects of people flows into and out of the country.

This comprehensive overview of the monetary policy responses to post-pandemic inflation provides a unique reference for scholars, teachers, policy-makers, and investors seeking to understand and draw lessons from this tumultuous period.

Recent papers have argued that monetary policy and economic conditions can influence the amount of innovative activity in the economy, and therefore productivity and living standards in the future. This paper examines whether this is the case for Australia - a small open economy that tends to import innovation from overseas.

Drawing on more than a decade of research, this report acts as a roadmap for the incoming New Zealand Government. It provides practical, evidence-based proposals that cover immediate priority areas such as inflation control, and fundamental fields for reform, including education, health and housing.