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From First- to Second-Generation Social Pacts

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

Author

Listed:
  • Nicola Acocella

    (Università di Roma La Sapienza)

  • Giovanni Di Bartolomeo

    (Università di Teramo)

  • Patrizio Tirelli

    (Università di Milano Bicocca)

Abstract

The chapter presents a model, where the union is interested in the level of wages, employment and the level of public expenditure. Social pacts are shown not only to lead to a superior macroeconomic performance, but to be also acceptable by unions. The key to their acceptability lies in the benefit the unions draw from a higher public expenditure, in line with Tarantelli’s thought. By reflecting on the fact that public expenditure is financed through distortionary taxation, however, their model offers also the possibility to explain the second-generation social pacts in Europe highlighted by Visser.

Suggested Citation

  • Nicola Acocella & Giovanni Di Bartolomeo & Patrizio Tirelli, 2007. "From First- to Second-Generation Social Pacts," AIEL Series in Labour Economics, in: Nicola Acocella & Riccardo Leoni (ed.), Social Pacts, Employment and Growth. A Reappraisal of Ezio Tarantelli’s Thought, edition 1, chapter 12, pages 239-251, AIEL - Associazione Italiana Economisti del Lavoro.
    • Handle: RePEc:ail:chapts:02-12
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    File URL: http://link.springer.com/chapter/10.1007/978-3-7908-1923-6_12
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    Cited by:

    1. Nicola Acocella & Giovanni Bartolomeo, 2013. "The Cost Of Social Pacts," Bulletin of Economic Research, Wiley Blackwell, vol. 65(3), pages 238-255, July.
    2. Giovanni Michelagnoli, 2015. "The Shaping of Incomes Policy in the Eighties. The Contribution of Ezio Tarantelli," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2015(2), pages 37-56.
    3. Nicola Acocella & Giovanni Bartolomeo & Wilfried Pauwels, 2010. "Is there any scope for corporatism in macroeconomic policies?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 37(4), pages 403-424, November.

    More about this item

    Keywords

    Tarantelli’s thought; social pact; political exchange.;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • J52 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Dispute Resolution: Strikes, Arbitration, and Mediation

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