Competition and Regulation Times. November 2012.

Abstract

• Title: Paying the Piper's price Abstract: The question of how (or even whether) to price water is a sensitive subject in New Zealand. The subject is no less fraught in other countries. Yigit Saglam illustrates the effects that an optimal pricing policy could have in mitigating water shortages in semi-arid but agriculturally important southern Turkey. Author:Yigit Saglam
• Title: ISCR board welcomes new chair Author: Christine Southey
• Title: Bank Regulation: upping the ante Abstract: In the last issue of Competition & Regulation Times, Alfred Duncan explored the benefits and costs of bank regulation. Here he focuses on particular features of its implementation in New Zealand. He also suggests a possible way of better aligning bankers’ incentives with financial-system safety and capital-allocation efficiency. Author: Alfred Duncan
• Title: Will they fly? PPPs and the ultrafast broadband initiative Abstract: The political perception of New Zealand’s broadband market performance as ‘poor’ has underpinned many significant changes to the telecommunications policy and regulatory environments since 2001. Most recently, this has been manifested in substantial government subsidies by way of public-private partnerships (PPPs) for an ultra-fast broadband (UFB) network that promises to deliver fibre connections with upload/download speeds of 100Mbps/50Mbps to 75% of New Zealanders by 2019. Bert Sadowski and Bronwyn Howell explore the pros and cons of the New Zealand PPPs. Author: Bert Sadowski, Bronwyn Howell
• Title: Smart power pricing … sometimes Abstract: 'Smart’ residential electricity meters capable of transmitting information about customers’ usage in real time are expected to revolutionise the electricity industry worldwide: for example, they can allow retail prices to vary as generation costs change over the course of a day or a week. In a recent experiment Paul Thorsnes and his co-authors used newly-installed smart meters (and information transmitted to consumers) to investigate how New Zealand consumers might respond to variable electricity prices Author: Paul Thorsnes
• Title: Good as Gold? Abstract:The euro ‘crisis’ has led to some speculation that Greece or Spain may exit the euro and possibly also repudiate their debt. Can legitimate governments renege on their responsibility to honour their debts? The US government did, in the 1930s. Nicholas Cross explains. Author: Nicholas Cross
• Title: A new professional regulator on the block Abstract: On 1 July 2011 the accounting profession’s long-established self-regulation of financial reporting, auditing and assurance standards came to an end. A newly created crown entity, the External Reporting Board, has assumed these duties. Carolyn Cordery looks at the board’s responsibilities and at the new accounting framework whose rollout the board is overseeing. Author: Carolyn Cordery