出版社：Suntory Toyota International Centres for Economics and Related Disciplines
摘要：As the economic crisis hit after 2007 unemployment rose, average wages fell behind inflation, the stock market crashed, and the house price boom came to an end. Overall living standards and the value of the personal wealth some people thought they had declined. But the impact of the crisis was not even. Many people, of course, held on to their jobs even as organisations stopped hiring new workers. Some groups did see wage rises. Price-linked social security benefits – which had fallen behind for those without children when other people’s real incomes were rising in the boom years1– had their values protected rather than declining. The stock market recovered, and house prices fell more in some regions than others. As long-term interest rates fell, today’s value of some people’s future pension rights increased, where the promises were defined in real terms or relative to their final salaries.
