TY  - JOUR
VL  - 53
PB  - Elsevier BV
Y1  - 2022/12//
A1  - Merrino, Serena
N2  - The distributive consequences of monetary policy have been researched only recently and almost entirely in advanced economies. This paper sheds light on the effect of conventional monetary policy shocks on the wage distribution in South Africa, where inequality ? mostly driven by the segmented labour market ? remains a large issue. Impulse response functions estimated from local projections show that the wage distribution significantly worsens in response to monetary shocks. Wages in the top half of the distribution, that benefit from unanticipated expansions, are less responsive to surprise contractions, remaining protected by skill-biased technology and strong labour unions.
AV  - public
JF  - Emerging Markets Review
N1  - This version is the author accepted manuscript. For information on re-use, please refer to the publisher?s terms and conditions.
ID  - discovery10148586
KW  - Inequality
KW  -  Labour market
KW  -  Local projections
KW  -  Monetary policy
KW  -  South Africa
TI  - Monetary policy and wage inequality in South Africa
UR  - https://doi.org/10.1016/j.ememar.2022.100911
ER  -