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| Author: | Devicienti, F. Maida, A. Sestito, P. |
| Title: | Downward wage rigidity in Italy: Micro-based measures and implications |
| Journal: | Economic Journal
2007 : NOV, VOL. 117:524, p. 530-552 |
| Index terms: | labour markets reforms unemployment wage determination |
| Freeterms: | wage rigidity |
| Language: | eng |
| Abstract: | This paper analyzes the downward wage rigidity in Italy. Exploiting the 1985-1999 WHIP data, the authors find considerable real and nominal wage rigidity. The findings are similar also when real rigidity is identified with reference to collective bargaining dispositions or to price inflation. The results also show that the importance of downward rigidities has weakened after the labour market reforms at the beginning of 1990s and that wage rigidities are positively linked to labour reallocation and local unemployment rates. This last finding emphasizes the importance of the results also in macroeconomic context. |
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