De Paola Maria (University of Calabria) Lupi Claudio () (ISAE - Institute for Studies and Economic Analyses) Ordine Patrizia () (University of Calabria)
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The process of wage expectations formation in different regional labor markets is considered. We argue that when information is scarce or ambiguous, cognitive dissonance phenomena may play a relevant role in shaping expectations. The theoretical discussion is supplemented with an empirical analysis carried out on individual data of Italian unemployed using semiparametric techniques. Results show a marked difference in expectations formation, with the northern unemployed using information more efficiently.
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Paper provided by ISAE - Institute for Studies and Economic Analyses - (Rome, ITALY) in its series ISAE Working Papers with number
22.