Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/272784 
Year of Publication: 
2023
Publisher: 
National Bank of Belgium, Brussels
Abstract: 
Our study of Belgian firms found that 2022 price increases were largely attributable to rising intermediate input costs. Wage increases also contributed to prices hikes. Interestingly, markups appeared to play no role in driving up prices and in fact decreased or even offset the contribution of wages. In a country with automatic wage indexation, this is an important point for discussion in the debate on the profit-price or wage-price spiral.
Subjects: 
markups
greedflation
wages
profits
wage-price spiral
profit-wage-price spiral
profit-price spiral
JEL: 
D22
D4
E3
J3
L11
Document Type: 
Working Paper

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