wage_inflator {grattanInflators}

Wage inflator

Description

Uses the Wage Price Index

Usage

wage_inflator(
  from = NULL,
  to = NULL,
  check = 1L,
  series = wpi_original(),
  fy_month = 3L,
  x = NULL,
  nThread = getOption("grattanInflators.nThread", 1L)
)

wpi_original(..., FORECAST = FALSE, LEVEL = "mean")

wpi_seasonal(..., FORECAST = FALSE, LEVEL = "mean")

wpi_trend(..., FORECAST = FALSE, LEVEL = "mean")

Arguments

from, to

Times for which the inflator is desired. If NULL, a date range close to the previous year is used.

check

integer(1) If 0L, no checks are performed, and clearly invalid inputs result in NA in the output. If check = 1L an error is performed for bad input; check = 2L is more thorough.

series

A call to 'wpi_original()', 'wpi_seasonal()', or 'wpi_trend()', defining which wage price index series to use.

fy_month

The month to be used in 'series' for financial years.

x

(Advanced) A vector that will be inflated in-place. If NULL, the default, the return vector is simply the inflation factor for 'from'.

nThread

Number of threads to use.

...

Set of date-rate pairs for custom WPI series in the future.

FORECAST

Whether the series should be extended via an ETS forecast.

LEVEL

If 'FORECAST = TRUE' what prediction interval should be used. ('LEVEL = 20' means the lower end of an 80% prediction interval.) If 'LEVEL = "mean"' (the default), the central estimate is used.

Value

If 'x' is 'NULL', the default, a numeric vector matching the lengths of 'from' and 'to' equal to the inflators by which nominal wages dated 'from' must be multiplied so that they are in 'to' real terms.

If 'x' is numeric, it is taken to be wages dated 'from' and the value returned is 'x' in 'to' real terms.