Seven years lost - NZIER Insight 33
Proust’s À la recherche du temps perdu (In search of lost time) inspired the Proust index in The Economist newspaper of 25 February 2012. The Economist looked across a number of economic measures to see how far back countries have slipped since the global economic crisis. We replicated the Proust index for New Zealand. The recession has cost us dear. In economic terms, New Zealand is now back in 2005.
Each year NZIER devotes some of its resources to undertake and make freely available economic research and thinking aimed at promoting a better understanding of New Zealand’s important economic challenges. The preparation of this paper was funded from those resources.
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