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Влияние жесткости заработных плат на инфляцию в рамках трансмиссионного механизма монетарной политики // The impact of wage rigidity on inflation within the framework of the transmission mechanism of monetary policy

Author

Listed:
  • Адилханова Зарина // Adilkhanova Zarina

    (National Bank of Kazakhstan)

Abstract

Данная работа исследует значимость степени жесткости заработной платы в контексте формирования денежно-кредитной политики в Казахстане. Оценка влияния жесткости заработной платы на инфляцию проведена в рамках новой кейнсианской модели, в которой рынок труда характеризуются трениями поиска и сопоставления, описанной в работе Christoffel et al. (2008). Результаты показали, что рынок труда, характеризующийся более низкой степенью жесткости заработной платы, существенно изменяет трансмиссию шоков. Например, инфляция проявляет более быстрый отклик на шок денежно- кредитной политики и становится менее устойчивой при более гибкой заработной плате. // This work investigates the significance of wage rigidity in the context of formulating monetary policy in Kazakhstan. The assessment of the impact of wage rigidity on inflation was conducted within the framework of a New Keynesian model, in which the labor market is characterized by search and matching frictions, as described in the work of Christoffel et al. (2008). The results showed that a labor market characterized by lower wage rigidity significantly alters the transmission of shocks. For example, inflation responds more quickly to a monetary policy shock and becomes less stable with more flexible wages.

Suggested Citation

  • Адилханова Зарина // Adilkhanova Zarina, 2024. "Влияние жесткости заработных плат на инфляцию в рамках трансмиссионного механизма монетарной политики // The impact of wage rigidity on inflation within the framework of the transmission mechanism of ," Working Papers #2024-5, National Bank of Kazakhstan.
    • Handle: RePEc:aob:wpaper:54
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    жесткость заработных плат; инфляция; рынок труда; wage rigidity; inflation; labor market;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

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