Competitiveness And Wage Bargaining Reform In Italy
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Competitiveness And Wage Bargaining Reform In Italy
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Author : Mr.Alvar Kangur
language : en
Publisher: International Monetary Fund
Release Date : 2018-03-16
Competitiveness And Wage Bargaining Reform In Italy written by Mr.Alvar Kangur and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-16 with Business & Economics categories.
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.
Italy
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-27
Italy written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-27 with Business & Economics categories.
This Selected Issues paper analyzes the competitiveness and wage bargaining reform in Italy. The growth of Italian exports has lagged that of euro area peers. 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. The analysis also suggests 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.
The Italian Labor Market
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Author : Mr.Martin Schindler
language : en
Publisher: International Monetary Fund
Release Date : 2009-03-01
The Italian Labor Market written by Mr.Martin Schindler and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-01 with Business & Economics categories.
Despite improvements in labor market performance over the past decade, owing in part to past reforms, Italy's employment and productivity outcomes continue to lag behind those of its European peers. This paper reviews Italy's institutional landscape and labor market trends from a cross-country perspective, and discusses possible avenues for further reform. The policy discussion draws on international reform experience and on simulations based on a calibrated labor market matching model. A key lesson is that the details of reform design, and the sequencing of reforms, matter greatly for labor market outcomes and for the fiscal costs associated with these reforms.
Italy Quantifying The Benefits Of A Comprehensive Reform Package
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Author : Michal Andrle
language : en
Publisher: International Monetary Fund
Release Date : 2018-03-16
Italy Quantifying The Benefits Of A Comprehensive Reform Package written by Michal Andrle and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-16 with Business & Economics categories.
This paper seeks to quantify the net benefits of a comprehensive reform package aimed at addressing Italy’s inter-related challenges. Specifically, it simulates the growth and competitiveness effects of a package of fiscal, financial, wage bargaining, and other structural reforms. Credible implementation of such a package yields substantial mediumterm dividends at negligible near-term growth costs. Real GDP growth is estimated to be substantially higher over the medium term, while the real effective exchange rate depreciates notably.
Competitiveness And Wage Bargaining Reform In Italy
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Author : Mr.Alvar Kangur
language : en
Publisher: International Monetary Fund
Release Date : 2018-03-16
Competitiveness And Wage Bargaining Reform In Italy written by Mr.Alvar Kangur and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-16 with Business & Economics categories.
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.
Wage Bargaining Under The New European Economic Governance
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Author : Guy Van Gyes
language : en
Publisher: ETUI
Release Date : 2015-09-28
Wage Bargaining Under The New European Economic Governance written by Guy Van Gyes and has been published by ETUI this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-28 with Collective bargaining categories.
Within the framework of the new European economic governance, neoliberal views on wages have further increased in prominence and have steered various reforms of collective bargaining rules and practices. As the crisis in Europe came to be largely interpreted as a crisis of competitiveness, wages were seen as the core adjustment variable for ‘internal devaluation’, the claim being that competitiveness could be restored through a reduction of labour costs. This book proposes an alternative view according to which wage developments need to be strengthened through a Europe-wide coordinated reconstruction of collective bargaining as a precondition for more sustainable and more inclusive growth in Europe. It contains major research findings from the CAWIE2 – Collectively Agreed Wages in Europe – project, conducted in 2014–2015 for the purpose of discussing and debating the currently dominant policy perspectives on collectively-bargained wage systems under the new European economic governance.
Italian Institutional Reforms A Public Choice Perspective
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Author : Fabio Padovano
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-11-21
Italian Institutional Reforms A Public Choice Perspective written by Fabio Padovano and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-21 with Political Science categories.
Few established European democracies have undergone as much change as Italy in recent years, and here is a book that explores precisely what has been achieved – from a public choice perspective. The book pays particular attention to, among others, the introduction of the EURO, the reform of voting from proportional to majoritarian rule, and the switch from a highly centralized government to a federal organization.
Italy
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-27
Italy written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-27 with Business & Economics categories.
This 2017 Article IV Consultation highlights that the Italian economy is in the third year of a moderate recovery. Supported by exceptionally accommodative monetary policy, fiscal easing, low commodity prices, and the government’s reform efforts, the economy grew by 0.9 percent in 2016 and continued to expand in the first quarter of 2017. Unemployment and nonperforming loans have declined somewhat from their crisis-driven peaks. Growth is projected at about 1.3 percent in 2017 and about 1 percent in 2018–20 as favorable tailwinds become less supportive. Growth could surprise on the upside in the near term, including from a stronger European recovery.
Rescued By Europe
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Author : Maurizio Ferrera
language : en
Publisher: Amsterdam University Press
Release Date : 2004
Rescued By Europe written by Maurizio Ferrera and has been published by Amsterdam University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Political Science categories.
Annotation Elizabeth A. Kaye specializes in communications as part of her coaching and consulting practice. She has edited Requirements for Certification since the 2000-01 edition.
Taxation Wage Bargaining And Unemployment
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Author : Isabela Mares
language : en
Publisher: Cambridge University Press
Release Date : 2006-02-13
Taxation Wage Bargaining And Unemployment written by Isabela Mares and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-02-13 with Political Science categories.
Why were European economies able to pursue the simultaneous commitment to full employment and welfare state expansion during the first decades of the postwar period and why did this virtuous relationship break down during recent decades? This book provides an answer to this question, by highlighting the critical importance of a political exchange between unions and governments, premised on wage moderation in exchange for the expansion of social services and transfers. The strategies pursued by these actors in these political exchanges are influenced by existing wage bargaining institutions, the character of monetary policy and by the level and composition of social policy transfers. The book demonstrates that the gradual growth in the fiscal burden has undermined the effectiveness of this political exchange, lowering the ability of unions' wage policies to affect employment outcomes.