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The living income for Slovak households

Author

Listed:
  • Brian Fabo

    (National Bank of Slovakia)

  • Martin Guzi
  • Barbora Å ofranková

Abstract

Legally mandated minimum subsistence level and statutory minimum wage are often an arbitrary amount reflecting political interests more than the actual cost of living. We calculate the living income for a single adult household and the household of two adults and two dependent children based on real price microdata. Our approach accounts for a nutritious diet, adequate housing, basic clothing and footwear, transport, education, healthcare and budget for communication, recreation, and other miscellaneous goods. We report separate living income for households residing in the capital city and households living in the different types of housing. Our main aim is to calculate the cost of living for Slovak households, which can be helpful to policy professionals in variety of domains, including macroprudential regulation. Our methodology allows for regular updates and improvements of living income calculation in the future as additional data become available.

Suggested Citation

  • Brian Fabo & Martin Guzi & Barbora Å ofranková, 2022. "The living income for Slovak households," Working and Discussion Papers OP 1/2022, Research Department, National Bank of Slovakia.
    • Handle: RePEc:svk:wpaper:1084
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    References listed on IDEAS

    as
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    4. Brian Fabo & Sharon Sarah Belli, 2017. "Correction to: (Un)beliveable wages? An analysis of minimum wage policies in Europe from a living wage perspective," IZA Journal of Labor Policy, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 6(1), pages 1-3, December.
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    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
    • R28 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Government Policy

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