Hamish Pepper – Economic Analyst, Economics Department

It’s said that if you find a job you love, you will never have to work a day in your life - and it seems that Hamish Pepper has found just that.

“There are lots of roles out there that involve economics, but it’s actually quite difficult to end up in a job where you get to do economics all day long,” he says. “I am lucky enough to get paid to do something I really enjoy.”

Hamish completed a BCA (Hons) in Economics at Victoria University in Wellington, and says the work he does at the Bank has strong links with work he completed during his Honours year. “One of the many things I have been involved in since joining the Bank is macroeconomic modelling. I am finding that what I studied is directly relevant and I am enjoying having the chance to apply it in a real world situation.”

Team work is important at the Bank, and Hamish appreciates the chance to work collaboratively with his colleagues, particularly those who hold senior positions in the Bank. “I really value the fact that I am continually learning and working in a supportive environment,” he says. “You are given a lot of responsibility from the very first day and senior people listen to you and talk with you about things. There is real respect at every level.”

One thing that surprised Hamish when he started at that the Bank was its thriving social scene. He is a member of the Bank’s Social Club and helps organise its monthly events, including quiz nights and the mid-year ball. “It definitely seems to have the best social scene compared to other places my friends are working,” he says. “I had worked in a few jobs where I was the youngest person by about twenty years. It’s nice to work somewhere where there are other young people to hang out with.”

A day in the life of Hamish Pepper

First thing

Once I arrive at work and check a few emails, I head down to the Financial Markets Department morning meeting. This is where I get an update on both international and domestic financial market events from the previous day, and it’s a great opportunity to share information and discuss any implications these events may have for monetary policy. Sometimes I like to follow this up with a brief look at how local market analysts have interpreted these events in their daily economic releases.

Morning/Afternoon

Leading up to a Monetary Policy Statement, the majority of my time is spent operating our main macroeconomic model - FPS. This involves working closely with the forecasting team to produce projections of key macroeconomic variables that are important for monetary policy. This central projection is then presented to the Monetary Policy Committee by the forecasting team. In addition to the central projection, I will also be preparing the alternative scenarios paper which serves to highlight any risks around the central projection to the Monetary Policy Committee.

At other times I’ll be working on research projects which often culminate in Discussion Papers or Bulletin Articles and are published by the Reserve Bank.

In between all of this, I’ll attend many of the seminars hosted by the Economics Department, with speakers ranging from visiting international academics, to industry experts, to Reserve Bank analysts.

If it’s a Wednesday, we have our modelling team meeting. This is an opportunity to hear what’s been happening at a managerial level, to find out what everyone has been working on and to discuss recent events and issues.

Lunch

With the Reserve Bank building located right in the centre of Wellington, I often go for a run along the waterfront or up into the hills of Kelburn before having lunch. On other occasions I play in one of the Reserve Bank’s indoor netball or soccer teams, which compete in the local social competition that includes other business teams from around Wellington.

Late afternoon

If it’s a Friday, the Department usually ends the week with a few drinks together and once a month John McDermott (Assistant Governor and Head of Economics) will give us a brief overview of what has been happening at a higher level. This is a great time to catch up with other people in the department, talk about plans for the weekend and generally unwind after a busy week.