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Employment Growth in Italy in the 1990s: Institutional Arrangements and Market Forces

In: Social Pacts, Employment and Growth

Author

Listed:
  • Andrea Brandolini

    (Bank of Italy)

  • Piero Casadio

    (Bank of Italy)

  • Piero Cipollone

    (Bank of Italy)

  • Marco Magnani

    (Bank of Italy)

  • Alfonso Rosolia

    (Bank of Italy)

  • Roberto Torrini

    (Bank of Italy)

Abstract

The chapter analyses the broad picture emerging from the 1993 incomes policy agreement in Italy as well as other policy actions (and omissions). The agreement was successful in producing a remarkable moderation of the relative price of labour - despite the reduction of the user cost of capital driven by the fall in interest rates – and an increase in labour demand and employment. In spite of this, however, the intensified international competition made structural problems of Italian industry much more severe, with negative effects on the growth of output and exports, and eventually employment.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Andrea Brandolini & Piero Casadio & Piero Cipollone & Marco Magnani & Alfonso Rosolia & Roberto Torrini, 2007. "Employment Growth in Italy in the 1990s: Institutional Arrangements and Market Forces," AIEL Series in Labour Economics, in: Nicola Acocella & Riccardo Leoni (ed.), Social Pacts, Employment and Growth, chapter 3, pages 31-68, Springer.
    • Handle: RePEc:spr:aiechp:978-3-7908-1923-6_4
    DOI: 10.1007/978-3-7908-1923-6_4
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    More about this item

    Keywords

    Monetary Policy; Total Factor Productivity; Inflation Rate; Employment Growth; Business Sector;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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