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If the responses of wages - both private and public - and of pensions to an increase in inflation lead to second … 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 …
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In this research project, we attempt to examine the behavior of business cycles in Asia in order to deepen our understanding of and expand research on this topic. Given the importance of the People’s Republic of China, Japan, and the United States in the region economy, we use these three...
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This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...
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