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Wage inequality under inflation-targeting in South Africa

Serena Merrino

No wp-2020-86, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper aims at providing new evidence over the effect of conventional monetary policy shocks on wage inequality through the earnings heterogeneity channel under the inflation-targeting regime implemented in South Africa since 2000. The empirical contribution follows previous studies by implementing a multivariate time-series analysis and identifying the structural shocks in a vector error correction model. Impulse response functions show that the overall wage distribution worsens immediately after a positive shock to the prime rate.

Keywords: Earnings; Earnings inequality; Inequality; Monetary policy; Vector error correction; Distribution (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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