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The generation gap: relative earnings of young and old workers in Italy

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  • Alfonso Rosolia

    ()
    (Banca dÂ’Italia)

  • Roberto Torrini

    ()
    (Banca dÂ’Italia)

Abstract

We describe the evolution of the relative earnings of young male workers and the evolution of the age-earnings profiles across cohorts in the last three decades. We draw on administrative records to document a significant deterioration of entry wages over the 1990s in the presence of basically stable experience profiles. We supplement the analysis with the Bank of Italy's Survey on Household Income and Wealth and show that the wage gap between younger and older workers widened in the 90s for all levels of educational attainment. These developments are not accounted for by changes in relative skill-age labor supplies or in other potential socio-demographic determinants of wages. We argue that they were probably the result of partial labor market reforms that generated a dual labor market along the age dimension, opening a gap between the earnings of old incumbent workers and those of new labor market entrants.

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Bibliographic Info

Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 639.

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Date of creation: Sep 2007
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Handle: RePEc:bdi:wptemi:td_639_07

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Keywords: entry wages; relative wages; cohort effects; labor market reforms;

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Cited by:
  1. Rebekka Christopoulou & Theodora Kosma, 2009. "Skills and Wage Inequality in Greece: Evidence from Matched Employer-Employee Data, 1995-2002," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 26, Hellenic Observatory, LSE.
  2. Annamaria Simonazzi & Paolo Villa & Federico Lucidi, 2008. "Continuity and Change in the Italian Model: Italy's Laborious Convergence towards the European Social Model," Working Papers 108, University of Rome La Sapienza, Department of Public Economics.
  3. Tealdi, Cristina, 2011. "Typical and atypical employment contracts: the case of Italy," MPRA Paper 39456, University Library of Munich, Germany.
  4. Bosio, Giulio & Leonardi, Marco, 2011. "The Impact of Bologna Process on the Graduate Labour Market: Demand and Supply," IZA Discussion Papers 5789, Institute for the Study of Labor (IZA).
  5. Riccardo Leoni, 2011. "Employability of graduates and development of competencies: mind the gap and mind the step! Empirical evidence for Italy," Working Papers 1101, University of Bergamo, Department of Economics.
  6. Berloffa, Gabriella & Modena, Francesca, 2012. "Economic well-being in Italy: The role of income insecurity and intergenerational inequality," Journal of Economic Behavior & Organization, Elsevier, vol. 81(3), pages 751-765.

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