eprintid: 10148586
rev_number: 10
eprint_status: archive
userid: 699
dir: disk0/10/14/85/86
datestamp: 2022-05-17 12:59:16
lastmod: 2023-05-15 16:40:42
status_changed: 2022-05-17 12:59:16
type: article
metadata_visibility: show
sword_depositor: 699
creators_name: Merrino, Serena
title: Monetary policy and wage inequality in South Africa
ispublished: pub
divisions: UCL
divisions: D92
divisions: B03
keywords: Inequality, Labour market, Local projections, Monetary policy, South Africa
note: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
abstract: 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.
date: 2022-12
date_type: published
publisher: Elsevier BV
official_url: https://doi.org/10.1016/j.ememar.2022.100911
oa_status: green
full_text_type: other
language: eng
primo: open
primo_central: open_green
verified: verified_manual
elements_id: 1956586
doi: 10.1016/j.ememar.2022.100911
lyricists_name: Merrino, Serena
lyricists_id: SMERR69
actors_name: Merrino, Serena
actors_id: SMERR69
actors_role: owner
full_text_status: public
publication: Emerging Markets Review
volume: 53
article_number: 100911
citation:        Merrino, Serena;      (2022)    Monetary policy and wage inequality in South Africa.                   Emerging Markets Review , 53     , Article 100911.  10.1016/j.ememar.2022.100911 <https://doi.org/10.1016/j.ememar.2022.100911>.       Green open access   
 
document_url: https://discovery.ucl.ac.uk/id/eprint/10148586/1/1-s2.0-S1566014122000280-main.pdf