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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

Author

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  • Адилханова З. // Adilkhanova Z.

    (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 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.

Suggested Citation

  • Адилханова З. // Adilkhanova Z., 2024. "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 Mecha," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2 Special, pages 45-59.
    • Handle: RePEc:aob:journl:y:2024:i:2special:p:45-59
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    References listed on IDEAS

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    More about this item

    Keywords

    wage rigidity; inflation; labor market; жесткость заработных плат; инфляция; рынок труда;
    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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