Влияние жесткости заработных плат на инфляцию в рамках трансмиссионного механизма монетарной политики // Impact of Wage Rigidity on Inflation within the Framework of Monetary Policy Transmission Mechanism

Zarina Adilkhanova

Economic Review(National Bank of Kazakhstan), 2024, issue 2 Special, 45-59

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 описанной в работе Christoffel et al. (2008) новой кейнсианской модели, в которой рынок труда характеризуется трениями поиска и сопоставления. Результаты показали, что рынок труда, характеризующийся более низкой степенью жесткости заработной платы, существенно изменяет трансмиссию шоков. // This paper examines the significance of wage rigidity in the context of monetary policy formulation in Kazakhstan. The impact of wage rigidity on inflation is assessed within the framework of the new Keynesian model described in Christoffel et al. (2008), where the labor market is characterized by search and matching frictions. The results show that a labor market characterized by lower wage rigidity significantly changes the transmission of shocks. For example, a monetary policy shock leaks over to inflation more quickly, and inflation becomes less steady. The author would like to thank Tolepbergen Alisher for his feedback and assistance during the course of this study.

Keywords: wage rigidity; inflation; labor market; жесткость заработных плат; инфляция; рынок труда (search for similar items in EconPapers)
JEL-codes: E12 E32 E52 J30 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://nationalbank.kz/file/download/102493 English language version (application/pdf)
https://nationalbank.kz/file/download/104749 Russian language version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aob:journl:y:2024:i:2special:p:45-59

Access Statistics for this article

Economic Review(National Bank of Kazakhstan) is currently edited by Vitaliy Tutushkin

More articles in Economic Review(National Bank of Kazakhstan) from National Bank of Kazakhstan Contact information at EDIRC.
Bibliographic data for series maintained by Saida Agambayeva ().