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grattanInflators (version 0.5.4)

wage_inflator: 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")

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.

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.