Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/177758
Authors: 
Latsos, Sophia
Year of Publication: 
2018
Series/Report no.: 
Working Paper No. 153
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.
Subjects: 
Japanese monetary policy
Bank of Japan
monetary easing
policy effects
real wages
monetary transmission channels
JEL: 
E52
E58
E24
Document Type: 
Working Paper

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