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

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  • Francesco DEVICIENTI
  • Agata MAIDA

    (Universita' di Torino)

  • Paolo SESTITO

    (Banca d'Italia e Ministero del lavoro e delle Politiche Sociali)

Abstract

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.

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File URL: http://riss.vitaepensiero.it/scheda-articolo_digital/francesco-devicienti-agata-maida-paolo-sestito/la-determinazione-dei-salari-in-italia-rigidita-reali-e-nominali-prima-e-dopo-gli-accordi-di-politica-dei-redditi-000518_2005_0002_0179-150820.html
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Bibliographic Info

Article provided by Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore in its journal Rivista Internazionale di Scienze Sociali.

Volume (Year): 113 (2005)
Issue (Month): 2 ()
Pages: 319-344

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Handle: RePEc:vep:journl:y:2005:v:113:i:2:p:319-344

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Related research

Keywords: downward wage rigidity; real effects of inflation; collective bargaining; switching regime model; indexation.;

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