Public wage and pension indexation in the euro area: an overview
Cristina Checherita-Westphal,
João Domingues Semeano,
Elena Ahonen,
Pierrick Stinglhamber,
Stefan Van Parys,
Johannes Clemens,
Katri Urke,
Orsolya Soosaar,
Maria Vergou,
Maria Flevotomou,
David Staunton,
Jorge Martínez-Pagés,
Aristoklis Avgousti,
Gintare Zelionkaite,
Olivier Delobbe,
Florian Henne,
Baiba Brusbārde,
John Farrugia,
Juergen Attard,
Fabrizio Renzi,
Marco Savegnago,
Doris Prammer,
Lukas Reiss,
Gerard Eijsink,
Jip Italianer,
Maria Campos,
Andreja Strojan Kastelec,
Barbora Palášthyová,
Vratislav Pisca and
Jarkko Kivistö
Authors registered in the RePEc Author Service: Cristina Checherita Westphal
No 299, Occasional Paper Series from European Central Bank
Abstract:
If the responses of wages – both private and public – and of pensions to an increase in inflation lead to second-round effects, this can make an inflationary shock more persistent, especially in the presence of automatic wage and pension indexation. This occasional paper presents an overview of the indexation schemes and other mechanisms for setting public wages and pensions across the euro area countries. It concludes that price indexation of public wages is relatively limited in the euro area, while public pensions are overwhelmingly automatically indexed, either fully or partially, to prices and wages. JEL Classification: E62, J3, H55, E31
Keywords: and Labor Costs; Compensation; Fiscal policy; Inflation; Social Security and Public Pensions; Wages (search for similar items in EconPapers)
Date: 2022-08
New Economics Papers: this item is included in nep-age and nep-lma
Note: 1790315
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Citations: View citations in EconPapers (5)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:2022299
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