time-invariant benefit-rules, two factors play important roles: (i) the weight of the wages in indexation of benefits in …

Much of the opposition to indexation as a means of adapting to on going inflation arises from the view that indexation … deficits are in part financed through the printing of money. It is shown that all aspects of indexing -- wage indexation, bond … indexation, and tax indexation -- tend to increase the impact on the price level of any inflationary shock. However, this …

analyses this response in terms of a simple model of indexation to the aggregate price level. The model highlights the …

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 …

with downward real wage rigidity, measured on the basis of wage indexation. Downward nominal wage rigidity is positively …