IMF：2023年4月财政监测报告（EN）.pdfVIP

CHAPTER 2 Inflation and Disinflation: What Role for Fiscal Policy? Online Annex 2.1. International Practices with Inflation Indexation1 This Online Annex summarizes the survey of indexation practices discussed on the chapter’s subsection “International Practices with Inflation Indexation.” The cross-country review of inflation indexation practices focused on major budget items that are commonly impacted by indexation—personal income tax thresholds, public wages, pensions, and social benefits (Figure 2.1). It relied on a variety of sources described in a summarized manner below: Data Description • Personal income tax threshold indexation—The cross-country analysis was done using the data from Beer, Griffiths, and Klemm (2023). The data was verified and updated using official websites and IMF desk inputs, based on availability. The sample has 158 countries and classifies countries based on whether the prevailing personal income tax bracket adjustments are automatically tied to inflation, regularly adjusted but with an unclear process (de facto), or not adjusted regularly. • Pension indexation—The first source was OECD (2021) and Checherita-Westphal (2022). For most LIDCs and EMs, the data was collected from the “Social Security Programs Throughout the World” published by the United States Social Security Administration (SSA) in collaboration with the International Social Security Association (ISSA). The “benefits adjustments” of old-age benefits were first analyzed to identify if the adjustments are regular—in which case, they are considered as indexed and then, as a second step, categorized whether they are indexed to prices, wages or mixed/other factors such as GDP growth. In the case that “benefits adjustments” is missing or not mentioned to have “regular adjustments”, they were classified as “no indexation”. The data was verified and updated using official websites and IMF d