The living income for Slovak households

Brian Fabo, Martin Guzi () and Barbora Šofranková

No OP 1/2022, Working and Discussion Papers from Research Department, National Bank of Slovakia

Abstract: Legally mandated minimum subsistence level and statutory minimum wage are often an arbitrary amount reflecting political interests more than the actual cost of living. We calculate the living income for a single adult household and the household of two adults and two dependent children based on real price microdata. Our approach accounts for a nutritious diet, adequate housing, basic clothing and footwear, transport, education, healthcare and budget for communication, recreation, and other miscellaneous goods. We report separate living income for households residing in the capital city and households living in the different types of housing. Our main aim is to calculate the cost of living for Slovak households, which can be helpful to policy professionals in variety of domains, including macroprudential regulation. Our methodology allows for regular updates and improvements of living income calculation in the future as additional data become available.

JEL-codes: D14 H53 R28 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2022-01
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Persistent link: https://EconPapers.repec.org/RePEc:svk:wpaper:1084

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