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Convergence of Italy’s Tradable Sector Growth Rate and Wage Stagnation

digital Convergence of Italy’s Tradable Sector Growth Rate
and Wage Stagnation
Article
journal RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI
section Open Access
title Convergence of Italy’s Tradable Sector Growth Rate and Wage Stagnation
author
publisher Vita e Pensiero
format Article | Pdf
online since 06-2020
doi 10.26350/000518_000039
issn 0035-676X (print) | 1827-7918 (digital)
Free

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In the last five years the Italian manufacturing sector has reduced the growth gap vis-à-vis the euro area, in the face of a continuing growth differential in the service sector. The improvement of cost ompetitiveness is among the factors that led to this recovery in the manufacturing sector. However, as long as competitiveness gains mainly depend on the slowdown in wages rather than on increases in productivity extended to all sectors of the economy, the process cannot be considered virtuous. It entails not only beneficial effects on exports, but also unfavourable consequences on real wages and household incomes and, therefore, on domestic demand.

keywords

Competitiveness, Wages, Labour, Manufacturing

Author biography

REF Ricerche, Milano. Email: fdenovellis@refricerche.it.