Policy responses to the inflation crisis in Belgium and the Netherlands show great similarities but also significant differences. In both countries responses were quick and substantial. Measures covered prices more than household incomes while universal, not earmarked measures exceeded selective interventions. However, there were also major differences between the two countries. Because Belgium, unlike the Netherlands, could fall back on the mechanism of automatic indexation of wages and social benefits; it relied more on existing universal policy instruments while in the Netherlands more targeted ad hoc measures were taken which also allowed for innovation in policy making. These different policy paths have their origins in the 1980s when policy models began to diverge and different legacies emerged.

Social policies’ responsiveness to rising inflation depends in large part on whether they contain automatic indexation mechanisms, which ensure that the real value of wages and benefits expands during inflationary periods. Here we compare how the indexation of Canadian and U.S. policies on pensions, minimum wages, and food security have affected their responsiveness to the recent cost-of-living crisis. Three main conclusions emerge from our analysis. First, automatic indexation is not necessarily a silver bullet to avoid policy drift. Second, automatic indexation and its design are not the only factors that matter to determine whether high inflation leads to policy drift. Finally, in times of higher inflation, social programs that lack automatic indexation can avoid policy drift, as long as a strong political consensus allows for ad hoc social policy expansion capable of offsetting the negative effects of inflations on social benefits.

This paper examines linguistic, cognitive, and social factors in the development of an ongoing sound change in Andalusian Spanish related to the crosslinguistically well-known process of syllable coda lenition. The resyllabification of word internal /-s/ when followed by dental plosive /t/, in words such as lingüística [liŋ⋅ˈgujs⋅ti⋅ka] ‘linguistics’ realized as [liŋ⋅ˈguj⋅tsi⋅ka], results in an affricate sound [ts] that may be indexed in different ways within the speech community. Findings are reported from a trend study of two sample surveys separated by a twenty-year time gap, acoustic analysis, and two perception experiments. Acoustic phonetics, historical linguistics, theoretical phonology, and sociolinguistic studies provide the theoretical background to help explain the development of this sound change and its connection with other phonological features of Andalusian Spanish. Development of the affricate allophone is a natural outcome consistent with universal constraints boosted by the recent emergence of a regional koine, where its indexicality is undetermined.

We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt. We use a multi-period overlapping generation model with a pay-as-you-go pension pillar, a funded pension pillar and a government. Shocks are smoothed via the public debt and variations in the indexation of pension entitlements and pension contributions. The intensity of these adjustments increases when the pension funding ratio or public debt gets closer to their boundaries. The best-performing pension arrangement is a hybrid funded scheme in which both contributions and entitlement indexation are simultaneously deployed as stabilisation instruments. We find that contribution and indexation adjustment policies are substitutes and the same is the case for contribution and tax adjustment policies. By contrast, indexation and tax adjustment policies are complements. We compare different taxation regimes and conclude that a regime in which pension benefits are taxed, while contributions are paid before taxes, is preferred to a regime in which contributions are paid after taxes, but benefits are untaxed.

Pension systems' reforms are often related to a shift towards (fully or partially) defined contribution (DC) systems, in which the pension distribution reflects to a larger extent the wage distribution. In addition, relatively shorter working lives of those who have lower earnings increase the risk of receiving lower benefits. The aim of the paper is to present the changing role of a minimum pension as a tool of redistribution in the country that replaced a defined benefit (DB) pension system with a DC pension system. The old system in Poland had a significant income redistribution in the pension formula and the minimum pension was only a tool supporting this redistribution. After the introduction of the new mandatory pension system the main mechanism of redistribution (and a tool of social policy preventing poverty) is the minimum pension, financed from general taxes. According to the current rule of indexation, the minimum pension is expected to fall relative to the average wage in the economy. According to our simulations, the lack of changes of the current indexation method means that the minimum pension will fall below the International Labour Organisation (ILO) standard of the poverty protection of elderly by mid 2020s and in practice the last instrument of the poverty protection of elderly is going to disappear. However, the sole decision to change the indexation mechanism to the one based on full wage can create a significant pressure on public finance and distort incentives for prolonging work as 45% of women would be probably covered by the minimum pension guarantee (MPG). Results of simulations show that a raise and equalization of the retirement age for men and women combined with keeping a constant ratio of the minimum pension to the average (and also minimum) wage in the economy can be considered as a balanced solution that assures no further reduction of poverty protection and effective maintaining of this redistribution instrument.

K3Nb3WO9(AsO4)2 has been investigated by means of X-ray powder diffraction. Powder diffraction data were obtained by conventional diffractometer with Kα radiation. Unit-cell dimensions were determined by an indexing program based on variation of parameters by successive dichotomies. An orthorhombic cell (space group Pnma) was found with a=15.001 (1) Å, b=14.814(1) Å, c=7.2374 (8) Å, and V=1608.4 (4) A3. The figures of merit were calculated to be M(20)=35.9 and F(20)=70.8 (0.0055,51).

We explore the implications of alternative methods of discounting future pension outlays for the valuation of funded pension liabilities. Measured liabilities affect the asset–liability ratio of pension funds and, thereby, their policies. Our framework for analysis is an applied many-generation OLG model describing a small open economy with heterogeneous agents and a two-pillar pension system (with pay-as-you-go and funded tiers) calibrated to that in the Netherlands. We compare mark-to-market discounting against various alternatives, such as discounting against a moving average of past market curves or a curve that is constant over time. The pension buffer is stabilized by adjusting indexation and contribution rates in response to demographic, economic and financial shocks in the economy. Mark-to-market valuation of liabilities produces substantially higher volatility in the pension buffers, but it also generates slightly higher aggregate welfare.