Using a Dynamic General Equilibrium (DGE) model, this study examines the effects of monetary policy in economies where minimum wages are bound. The findings show that the monetary-policy effect on a binding-minimum-wage economy is relatively small and quite persistent. This result suggests that these two characteristics of monetary policy in the minimum-wage model are rather different from those in the union-negotiation model which is often assumed to account for industrial economies.
権利
Copyrights 日本貿易振興機構（ジェトロ）アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp
雑誌名
IDE Discussion Paper
雑誌名(英)
IDE Discussion Paper
巻
142
発行年
2008-03-01
出版者
Institute of Developing Economies (IDE-JETRO)
著者版フラグ
publisher
日本十進分類法
338
JEL分類
JEL:E32 - Business Fluctuations; Cycles
JEL:E52 - Monetary Policy
JEL:J3 - Wages, Compensation, and Labor Costs
JEL:O11 - Macroeconomic Analyses of Economic Development
地域/国名
発展途上国
キーワード(LSH)
Monetary policy
Sticky wage
Business cycles
Developing countries
Minimum wages
金融政策
硬直賃金
景気
発展途上国
最低賃金
Monetary Policy Effects in Developing Countries with Minimum Wages
本文
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