Competitiveness and Wage Bargaining Reform in Italy is popular PDF and ePub book, written by Mr.Alvar Kangur in 2018-03-16, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Competitiveness and Wage Bargaining Reform in Italy can be Read Online from any device for your convenience.
Competitiveness and Wage Bargaining Reform in Italy Book PDF Summary
The growth of Italian exports has lagged that of euro area peers. Against the backdrop of unit labor costs that have risen faster than those in euro area peers, this paper examines whether there is a competitiveness challenge in Italy and evaluates the framework of wage bargaining. Wages are set at the sectoral level and extended nationally. However, they do not respond well to firm-specific productivity, regional disparities, or skill mismatches. Nominally rigid wages have also implied adjustment through lower profits and employment. Wage developments explain about 45 percent of the manufacturing unit labor cost gap with Germany. In a search-and-match DSGE model of the Italian labor market, this paper finds substantial gains from moving from sectoral- to firm-level wage setting of at least 3.5 percentage points lower unemployment (or higher employment) rate and a notable improvement in Italy’s competitiveness over the medium term.
Detail Book of Competitiveness and Wage Bargaining Reform in Italy PDF
- Author : Mr.Alvar Kangur
- Release : 16 March 2018
- Publisher : International Monetary Fund
- ISBN : 9781484347621
- Genre : Business & Economics
- Total Page : 38 pages
- Language : English
- PDF File Size : 15,6 Mb
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