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

Andrea Brandolini (), Piero Casadio (), Piero Cipollone (), Marco Magnani and Alfonso Rosolia
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Marco Magnani: Banca d'Italia

Chapter 4 in Social Pacts, Employment and Growth. A Reappraisal of Ezio Tarantelli’s Thought, 2007, pp 31-68 from AIEL - Associazione Italiana Economisti del Lavoro

Abstract: 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.

Keywords: Incomes policy in Italy; disinflation policies; international competitiveness. (search for similar items in EconPapers)
JEL-codes: E31 E64 N14 (search for similar items in EconPapers)
Date: 2007
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Chapter: Employment Growth in Italy in the 1990s: Institutional Arrangements and Market Forces (2007)
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