IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Searching for Long Run Equilibrium Relationships in the Italian Labour Market: a Cointegrated VAR Approach

Listed author(s):
  • Lorenzo Corsini
  • Marco Guerrazzi

The aim of this paper is to empirically search for long run relationships in the Italian labour market, assessing the role that institutional factors played in it. In a sense, we search for the existence of a state of the economy where the labour market variables (some of which should measure the strength of institutional factors) are in a long run equilibrium. Having to deal with institutional factors, such as the presence of unions in the wage bargaining process, it came natural to use a model with New Keynesian features as theoretical background. Since we wanted to estimate equilibrium relationships, we chose the cointegrated VAR approach as estimation technique. Such approach is suited to separate long-run equilibrium relationships from short run transient dynamics, and to test the existence and the magnitude of equilibrium restoring forces. In the theoretical model we use, great emphasis is given to the variable that measures union power. Therefore, in the empirical analysis we give much attention to this variable, trying different proxies to measure it, and to assess the role it played in the Italian labour market functioning.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy in its series Discussion Papers with number 2004/43.

in new window

Date of creation: 01 Jan 2004
Handle: RePEc:pie:dsedps:2004/43
Contact details of provider: Postal:
Via Cosimo Ridolfi, 10 - 56124 PISA

Phone: +39 050 22 16 466
Fax: +39 050 22 16 384
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:pie:dsedps:2004/43. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.