Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/297888 
Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
Working Paper No. 2023-01
Verlag: 
Prague University of Economics and Business, Faculty of International Relations (FIR), Prague
Zusammenfassung: 
We investigate the heterogeneity in the effects of monetary policy shocks on the distribution of wages and hours worked, using unique contract-level data from the Czech labor market and identifying monetary policy shocks using a narrative approach based on market suprises in interest rate futures. The results suggest that low-wage groups are hit more profoundly by monetary policy shocks than high-wage groups, and the effect of restrictive shocks is stronger in the manufacturing sector than in any other. Exploring other dimensions of the data o§ers insights into the heterogeneity of the impact of monetary policy on different demographic groups. We show that low-educated and also young workers are more affected by restrictive monetary policy shocks due to their higher shares in low-wage groups.
Schlagwörter: 
monetary policy
heterogeneity
wage inequality
shock identification
JEL: 
E2
E3
E4
E5
Dokumentart: 
Working Paper

Datei(en):
Datei
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