소장기록
제목WP 97.174 Money, Wages and Inflation in Middle-Income Developing Countries
설명This paper examines the short-run links between money growth, exchange rate depreciation, nominal wage growth, the output gap, and inflation in Chile, Korea, Mexico, and Turkey, using a generalized vector autoregression analysis. Nominal historical wage shocks are shown to have an important effect on movements in inflation only in Mexico. Generalized impulse response functions show that a positive historical shock to nominal wage growth generates a transitory but significant reduction in output. Inflation increases in all countries, particularly Mexico. A positive shock to nominal money growth raises real cash balances on impact and exerts an expansionary effect on output, despite an increase in real wages.
생산자IMF
날짜1997-12-00
기록유형문서류
기록형태회의록/자료
주제IMF협상
식별번호KC-R-01078
제목WP 97.174 Money, Wages and Inflation in Middle-Income Developing Countries
설명This paper examines the short-run links between money growth, exchange rate depreciation, nominal wage growth, the output gap, and inflation in Chile, Korea, Mexico, and Turkey, using a generalized vector autoregression analysis. Nominal historical wage shocks are shown to have an important effect on movements in inflation only in Mexico. Generalized impulse response functions show that a positive historical shock to nominal wage growth generates a transitory but significant reduction in output. Inflation increases in all countries, particularly Mexico. A positive shock to nominal money growth raises real cash balances on impact and exerts an expansionary effect on output, despite an increase in real wages.
생산자IMF
날짜1997-12-00
크기 및 분량38쪽
언어영어
출처IMF
기록유형문서류
기록형태회의록/자료
대주제IMF협상
소주제1차협상
자원유형기록
파일 3a6f23f90f37565be682626ec66d4c89.pdf
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