Data di Pubblicazione:
2007
Citazione:
Downward wage rigidity in Italy : evidence and consequences / F. Devicienti, A. Maida, P. Sestito. - In: ECONOMIC JOURNAL. - ISSN 0013-0133. - 117:524(2007 Nov), pp. 530-552.
Abstract:
Using the 1985–99 WHIP data, we find a sizable amount of downward wage rigidity in Italy, with a
prevalence of real over nominal rigidity. The results hold when real rigidity is identified either with
reference to collective bargaining dispositions or to price inflation. Consistently with the labour
market reforms of the early 1990s, downward rigidities have become less important over time, with
the reduction in real rigidities more than offsetting the rise in nominal rigidities. We also find that
downward wage rigidities are positively related to labour reallocation and local unemployment rates,
hinting at the macroeconomic relevance of our estimates
Tipologia IRIS:
01 - Articolo su periodico
Keywords:
Wage rigidity
Elenco autori:
F. Devicienti, A. Maida, P. Sestito
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