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Impact des chocs monétaires sur les variations du salaire réel

Khazri, Afifa (2001): Impact des chocs monétaires sur les variations du salaire réel.

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Abstract

In this paper, we study real wage fluctuations in response to monetary shocks. We estimate five different models corresponding to five sets of monetary policy restrictions. Monetary shocks are measured by innovations in the nominal interest rate, total reserves and non-borrowed reserves. Our results show that for most of the models selected, the real wage response is positive and insignificant according to an expansionary monetary policy. The actual wage response is sensitive to the number of lags included in the VAR and the selected time period.

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