期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2021
卷号：2021
语种：English
出版社：European Central Bank
摘要：Shocks to inflation can have longer-lasting effects in the presence of second-round effects and second-round effects are more likely in the presence of wage indexation. Second-round effects can occur if households and/or firms attempt to compensate the loss of real income incurred by higher inflation when setting wages and/or prices. The potential effects of wage indexation mechanisms on wage setting and inflation developments depend not only on the prevalence of wage indexation to inflation, but also on the inflation indicator used for indexation. This box investigates the prevalence of wage indexation mechanisms in the private sector. [1] As wage-setting mechanisms differ considerably across euro area countries, regulations across countries are analysed and a euro area indicator is derived by aggregating characteristics of national wage indexation schemes using country shares in euro area private sector employment as weights.
