The 12th meeting of the New Zealand Econometrics Study Group (NZESG) was held in Wellington at the Reserve Bank of New Zealand on Friday afternoon, 17 October 2003, and at Old Government Buildings, Victoria University, on Saturday, 18 October 2003. It was well attended by approximately 50 participants (7 from overseas) with a full program of 20 speakers, including an opening address by Dr Alan Bollard, Governor, Reserve Bank of New Zealand. Full details of the program, including abstracts and photographs of the event, are available at the conference web site http://www.vuw.ac.nz/nzesg/ and at the NZESG home web site http://yoda.eco.auckland.ac.nz/nzesg/. [ABSTRACT FROM AUTHOR]