Exact solutions for steady-state, planar, magnetic reconnection in an incompressible viscous plasma

The exact planar reconnection analysis of Craig and Henton [Astrophys. J. 450, 280 (1995)] is extended to include the finite viscosity of the fluid and the presence of nonplanar components in the magnetic and velocity fields. It is shown that fast reconnection can be achieved for sufficiently small values of the kinematic viscosity. In particular, the dissipation rate is sustained by the strong amplification of planar magnetic field components advected toward the neutral point. By contrast, nonplanar field components are advected without amplification and so dissipate energy at the slow Sweet–Parker rate

Dynamic magnetic reconnection in three space dimensions: Fan current solutions

The problem of incompressible, nonlinear magnetic reconnection in three-dimensional "open" geometries is considered. An analytic treatment shows that dynamic "fan current" reconnection may be driven by superposing long wavelength, finite amplitude, plane wave disturbances onto three-dimensional magnetic X-points. The nonlinear reconnection of the field is preceded by an advection phase in which magnetic shear waves drive large currents as they localize in the vicinity of the magnetic null. Analytic arguments, reinforced by detailed simulations, show that the ohmic dissipation rate can be independent of the plasma resistivity if the merging is suitably driven

The Incidence and Persistence of Cyclical Job Loss in New Zealand

In New Zealand, the impact of the Global Financial Crisis (GFC) was milder than in most other developed countries, with employment declining by 2.5 percent between 2008q4 and 2009q4. Job and worker turnover rates both declined, signalling a reduction in labour market liquidity and difficulties for new entrants and high-turnover groups of workers (Fabling and Maré, 2012). The current paper documents the extent and composition of employment change between 2000 and 2011, focusing on the 2008-2010 period, when the labour market impacts of the GFC were strongest. As in previous downturns, the incidence of cyclical job loss and unemployment fell disproportionately on young and unskilled workers. The paper identifies, by age, gender and earnings level, the sensitivity of employment growth and labour market flows to aggregate employment fluctuations and also to relative fluctuations across industries and regions. The accession rate is particularly sensitive to the economic cycle, most strongly for young workers. Differences in the size of cyclical employment fluctuations reflect differing responsiveness to common shocks and not exposure to different industry and local shocks. Finally, the paper traces outcomes for workers whose jobs end, summarising their duration out of work and the wage increases or reductions they experience when they secure employment. Workers who left or lost jobs spent longer out of work after the GFC and settled for lower earnings growth when they did find a job. Both of these effects had partly but not fully abated within 3 years of the onset of the GFC

Regional Business Cycles in New Zealand: Do they exist? What Might Drive Them?

We use National Bank of New Zealand Regional Economic Activity data, to identify and characterise classical business cycle turning points, for New Zealand’s 14 regions and aggregate New Zealand activity. Using Concordance statistic measures, logistic model and GMM estimation methods, meaningful regional business cycles have been identified and a number of significant associations established. All regions exhibit cyclical asymmetry for both durations and amplitudes, and synchronisations between aggregate NZ activity and each region are contemporaneous. The regional cycles rarely die of old age but are terminated by particular events. The regions most highly synchronised with the NZ activity cycle are Auckland, Canterbury, and Nelson-Marlborough; those least so are Gisborne and Southland. Noticeably strong co-movements are evident for certain regions. Geographical proximity matters, and unusually dry conditions can be associated with cyclical downturns in certain regions. There is no discernable evidence of association with net immigration movements, and no significant evidence of regional cycle movements being associated with real house price cycles. The agriculture-based nature of the New Zealand economy is highlighted by the strong influence of external economic shocks on rural economic performance. In particular, there is considerable evidence of certain regional cycles being associated with movements in New Zealand’s aggregate terms of trade, real prices of milksolids, real dairy land prices and total rural land prices. JEL Classification: C22, E32, R11, R12, R15 Keywords: Classical business cycle; Turning Points; Regional business cycles; Concordance statistics; New Zealan

Variations in Earnings Growth: Evidence from Earnings Transitions in the NZ Linked Income Survey

This paper uses the New Zealand Linked Income Supplement (LIS) to investigate the annual transitions in hourly earnings of working age individuals over the years 1997 to 2004. I first construct transition matrices for annual changes in weekly and hourly earnings, to enable comparison with previous analyses using New Zealand tax data. I then estimate the determinants of annual changes in hourly earnings using OLS and quantile regressions. Differences in human capital are associated with differences in the rate of earnings growth. The results were broadly similar across the sub-periods 1997-2001 and 2001-2004

Sources of International Investment Data in the Longitudinal Business Database

The Longitudinal Business Database (LBD) links together firm-level data held by Statistics New Zealand from a combination of administrative and survey data sources. This linking has opened up a wide range of research opportunities. In many cases, there are now multiple sources of information on a single area of firms' activities, often capturing different aspects or a different population, requiring a choice to be made about the most appropriate source of data for any given research question. This note outlines the available firm-level data sources for research on foreign direct investment, describes the data available, and sets out some of the opportunities and challenges for using these data for research purposes. It also provides detail on maintenance procedures for one of the core elements of the LBD, the Longitudinal Business Frame, which is applicable to a wide variety of firm-level research topics