Indicative economic planning with a sixteen sector projection model of the New Zealand economy

Abstract

The main purpose of this paper is to describe the exercise in indicative economic planning which has been carried out in New Zealand over the last 18 months. After outlining the background to the National Development Conference, a description is given of the sectoral projection model used for the Conference and the process of reconciliation carried on between estimates by individual sector committees and the estimates derived from the overall model. Some comparisons of different estimates are given, and some of the deficiencies of the present model are briefly discussed.