Real Wage Effects of Japan’s Monetary Policy

Latsos Sophia ()
Additional contact information
Latsos Sophia: University of Leipzig, Institute for Economic Policy, Germany

ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 2018, vol. 69, issue 1, 177-215

Abstract: This paper examines real wage effects of monetary policy in Japan, particularly during the past two decades of monetary easing. The literature generally attributes real wage trends to structural factors that influence the nominal wage components, such as the disappearance of downward nominal wage rigidity. The contribution of this paper is twofold. First, it offers a theoretical framework for the transmission of monetary policy shocks to real wages, emphasizing the responsiveness of labor productivity growth to monetary expansion. Secondly, it alludes to the significance of real wage effects of monetary policy for optimal policy design.

Keywords: Japanese monetary policy; Bank of Japan; monetary easing; policy effects; real wages; monetary transmission channels (search for similar items in EconPapers)
JEL-codes: E24 E52 E58 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/ordo-2019-0012 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

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:bpj:ordojb:v:69:y:2018:i:1:p:177-215:n:11

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/ordo/html

DOI: 10.1515/ordo-2019-0012

Access Statistics for this article

ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft is currently edited by Christian Müller

More articles in ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft from De Gruyter
Bibliographic data for series maintained by Peter Golla ().