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

In: Social Pacts, Employment and Growth. A Reappraisal of Ezio Tarantelli’s Thought

  • Andrea Brandolini

    (Banca d'Italia)

  • Piero Casadio

    (Banca d'Italia)

  • Piero Cipollone

    (Banca d'Italia)

  • Marco Magnani

    (Banca d'Italia)

  • Alfonso Rosolia

    (Banca d'Italia)

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.

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This chapter was published in:
  • Nicola Acocella & Riccardo Leoni (ed.), 2007. "Social Pacts, Employment and Growth. A Reappraisal of Ezio Tarantelli’s Thought," AIEL Series in Labour Economics, AIEL - Associazione Italiana Economisti del Lavoro, number 02.
  • This item is provided by AIEL - Associazione Italiana Economisti del Lavoro in its series AIEL Series in Labour Economics with number 02-04.
    Handle: RePEc:ail:chapts:02-04
    Contact details of provider: Postal: Dipartimento di Giurisprudenza, Seconda Universitá di Napoli, Via Mazzocchi 5, 81055 S. Maria Capua Vetere (CE)
    Phone: +39 0823 275530
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    19. Bassanetti, Antonio & Döpke, Jörg & Torrini, Roberto & Zizza, Roberta, 2006. "Capital, labour and productivity: What role do they play in the potential GPD weakness of France, Germany and Italy?," Discussion Paper Series 1: Economic Studies 2006,09, Deutsche Bundesbank, Research Centre.
    20. Tito Boeri & Andrea Brandolini, 2004. "The Age of Discontent: Italian Households at the Beginning of the Decade," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 63(3-4), pages 449-487, December.
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    24. Andrea Brandolini & Piero Cipollone & Eliana Viviano, 2004. "Does the ILO Definition Capture All Unemployment?," Temi di discussione (Economic working papers) 529, Bank of Italy, Economic Research and International Relations Area.
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    29. Bruno Contini & Francesca Cornaglia & Claudio Malpede & Enrico Rettore, 2002. "Measuring the Impact of the Italian CFL Programme on the Job Opportunities for the Young," LABORatorio R. Revelli Working Papers Series 11, LABORatorio R. Revelli, Centre for Employment Studies.
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