La determinazione dei salari in Italia: rigidità reali e nominali prima e dopo gli accordi di politica dei redditi

Name: La determinazione dei salari in Italia: rigidità reali e nominali prima e dopo gli accordi di politica dei redditi
Brand: Vita e Pensiero
Price: 6.00 EUR
Availability: OnlineOnly

digital

Article

Magazine

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI

Issue

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2005 - 2

Title

La determinazione dei salari in Italia: rigidità reali e nominali prima e dopo gli accordi di politica dei redditi

Authors

Francesco Devicienti, Agata Maida, Paolo Sestito

Publisher

Vita e Pensiero

Format

Article |

Pdf

Pages

Online from

04-2005

Issn

0035-676X (print) | 1827-7918 (digital)

€ 6.00

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Description

This paper estimates the extent of downward wage rigidity in Italy using a micro-econometric model and the recently released WHIP longitudinal data. The econometric approach distinguishes between downward nominal wage rigidity – i.e., the impediment to nominal wage cuts – and downward real wage rigidity – i.e., when nominal wages cannot grow by less than a minimum positive threshold. The model accounts for measurement error and flexibly specifies the counterfactual, rigidity-free wage change distribution. The period analyzed goes from the mid eighties to the end of the century, within which the 1992-1993 income agreements – with the abolition of the scala mobile – are situated. Overall, downward wage rigidity impacts on about 70% of the observations. However, in the periods following the income agreements, the impact of wage rigidity is reduced, in particular with regards to real rigidities (with a slight increase in nominal rigidities). In each sub-period, however, real rigidities prevail over nominal rigidities.