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The July Protocol and Economic Growth: The Chance Missed

Leonello Tronti ()

Chapter 5 in Social Pacts, Employment and Growth. A Reappraisal of Ezio Tarantelli’s Thought, 2007, pp 69-95 from AIEL - Associazione Italiana Economisti del Lavoro

Abstract: The chapter deals with the overall impact of the comprehensive incomes policy adopted in Italy in July 1993. The extraordinary merits of the agreement in curbing inflation are recognized, along with some incompleteness (with respect to Ezio Tarantelli’s proposal) in the way on one hand the policy was implemented, and on the other the social partners have pursued the second bargaining level. The author suggests a reformulation of the 1993 Protocol agreed among the three social partners (trade union movement, employers’ confederations and Government) towards a more pragmatic approach, using the first level to distribute a more or less ample share of productivity gains in the sectors where the second level finds it hard to gain ground.

Keywords: Tarantelli’s thought; incomes policy; Italy’s inflation. (search for similar items in EconPapers)
JEL-codes: B31 E64 J52 (search for similar items in EconPapers)
Date: 2007
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