The country's mean Kaitz index 33The Kaitz index implicitly states the MW in real terms, as it is not susceptible to inflation (provided that the local overall wage level adjusts for inflation). 34The lowest Kaitz index value is reported for region UKI3, i.e. inner London area, in ...
Year dummies can capture fluctuations in macroeconomic conditions due to e.g., stock market returns, changes in discount rates, and inflation rates. Still, time-varying characteristics of pension funds are a source of variation. One way to correct for this is to include interacted pension fund ...
The Bank has had more success with inflation since core inflation was up 3.3% over a year earlier in June. But that number soon shrinks in proportion when you strip out the estimated impact of the recent tax hike. According to the Bank of Japan the ex-tax number for June was 1.3%, do...