Back to Search
Start Over
Real Wage and Nominal Shock: Evidence from Pacific-Rim Countries.
- Source :
- International Advances in Economic Research; Aug2005, Vol. 11 Issue 3, p249-255, 7p
- Publication Year :
- 2005
-
Abstract
- This paper examines aggregate real-wage responses to nominal shocks in four Pacific-rim countries utilizing a vector autoregression (VAR) framework. In this study, positive real-wage responses are found in Japan and New Zealand whereas negative responses are found in Australia and Korea. In the transmission of nominal shocks to real economic activities, the findings show a sticky-price model to be more important in Japan and New Zealand, while a sticky-wage model plays the more dominant role in Australia and Korea. [ABSTRACT FROM AUTHOR]
- Subjects :
- PURCHASING power
REAL wages
ECONOMIC indicators
BUSINESS cycles
REGRESSION analysis
Subjects
Details
- Language :
- English
- ISSN :
- 10830898
- Volume :
- 11
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- International Advances in Economic Research
- Publication Type :
- Academic Journal
- Accession number :
- 19121489
- Full Text :
- https://doi.org/10.1007/s11294-005-6614-5