EconPapers    
Economics at your fingertips  
 

Wage Bargaining Coordination and the Phillips Curve in Italy

Alessandra Del Boca (), Michele Fratianni, Franco Spinelli and Carmine Trecroci

Working Papers from University of Brescia, Department of Economics

Abstract: Was there a textbook-like Phillips curve in post-WWII Italy? We estimate a consensus model of the relationship between inflation and the level of economic activity over 1949-1998, finding no evidence of a significant and positive feedback from output to prices. We also estimate similar models for the UK and the US. We discuss the role of wage coordination and indexation mechanisms in generating what amounts to a significant departure of Italian data from what holds true for the US and UK. Likely, the rigid indexation mechanism that aimed at protecting wages from inflation ended up contributing to the persistent inflation bias that Italy experienced almost until its entry into EMU.

Date: 2009
New Economics Papers: this item is included in nep-cba and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9) Track citations by RSS feed

Downloads: (external link)
http://www.unibs.it/on-line/dse/Home/Inevidenza/Pa ... /documento10454.html
Our link check indicates that this URL is bad, the error code is: 403 Forbidden

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ubs:wpaper:0901

Access Statistics for this paper

More papers in Working Papers from University of Brescia, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Matteo Galizzi ( this e-mail address is bad, please contact ).

 
Page updated 2024-02-29
Handle: RePEc:ubs:wpaper:0901