Inflation and the role of wages in South Africa: A co-integration analysis

Ben Smit and Stan Du Plessis ()

Working Papers from University of Cape Town, Development Policy Research Unit

Abstract: An explanation of inflation that focuses on the costs of production, wages (or unit labour costs) plays a central role. In South Africa, the recent change to an inflation-targeting monetary policy framework and the relative strong role of trade unions has increased the need to understand and quantify the interaction between inflation and wages. The purpose of the working paper is to investigate this relationship empirically, on both the aggregate and sectoral levels, using multivariate co-integration techniques.

Keywords: South Africa: wages; unit labour costs; costs of production (search for similar items in EconPapers)
JEL-codes: A1 (search for similar items in EconPapers)
Pages: 79 pages
Date: 2001-09
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Published in Working Paper Series by the Development Policy Research Unit, September 2001, pages 1-79

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http://hdl.handle.net/11427/7215 First version, 2001 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ctw:wpaper:01053

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