This study examines the impact of corporate digital mergers and acquisitions (M&As) on the development of New Quality Productive Forces (NQPF). Using a multi-period difference-in-differences (DID) methodology with data from Chinese listed firms (2011-2021), we demonstrate that digital M&As significantly enhance NQPF. We identify two key mechanisms driving this effect: enhanced firm innovation capability and accelerated data asset accumulation. Furthermore, our findings reveal that external factors including advanced industrial structure, higher urban human capital, and lower economic policy uncertainty positively moderate this relationship. This research introduces a novel NQPF measurement index and provides actionable insights for firms and policymakers seeking to leverage digital transformation for high-quality economic development.

A groundbreaking study from New Zealand demonstrates that central bank "forward guidance" significantly strengthens the transmission of monetary policy. Analyzing New Zealand's banking data, the research finds that providing clear communication about the future path of interest rates enhances the pass-through from the official policy rate to bank deposit and lending rates. The results show improved long-term pass-through, especially for time deposits and fixed mortgages, alongside a slight acceleration in short-term adjustments. These findings offer critical evidence for central banks worldwide on the power of communication as a policy tool.