Every monetary policy decision by the Reserve Bank of New Zealand (RBNZ) is accompanied by a written statement about the state of the economy and the policy outlook, but only every second decision by a published interest rate forecast. We exploit this difference to study the relative influences...

By using administrative data from New Zealand, we assess the relative importance of job-finding, and job-to-job transition rates for wage dynamics. We exploit the regional variation and find that wages are closely linked to job-to-job transitions and less so to the job- finding rate. Further,...

This paper examines the relative size of the effects of New Zealand monetary policy and macroeconomic data surprises on the spot exchange rate, 2 and 5 year swap rate differentials, and the synthetic forward exchange rate schedule. We find that the spot exchange rate and 5 year swap rates...