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Monetary Policy Effects in Developing Countries with Minimum Wages Kodama, Masahiro 44984 338 JEL:E32 - Business Fluctuations; Cycles JEL:E52 - Monetary Policy JEL:J3 - Wages, Compensation, and Labor Costs JEL:O11 - Macroeconomic Analyses of Economic Development 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 application/pdf IDP000142_001 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. technical report Institute of Developing Economies　(IDE-JETRO) 2008-03-01 VoR application/pdf IDE Discussion Paper 142 IDE Discussion Paper https://ir.ide.go.jp/record/38025/files/IDP000142_001.pdf https://doi.org/10.20561/00038020 http://hdl.handle.net/2344/731 https://ir.ide.go.jp/records/38025 eng 発展途上国 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