Download or read book Competitiveness and Wage Bargaining Reform in Italy written by Mr.Alvar Kangur and published by International Monetary Fund. This book was released on 2018-03-16 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Italy written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2017-07-27 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book An Italian Job written by Alessio Terzi and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the mid-1990s, Italy has been characterised by a lack of labour productivity growth, combined with a 60 percent growth in labour costs, 20 percentage points above euro-area average consumer price growth. As a consequence, Italy has become less competitive compared to its euro-area partners, the profitability of its firms has dropped and real GDP-per-capita has flatlined. At the root of the substantial discrepancy between wages and productivity is Italy's current system of centralised wage bargaining which, in many ways, is designed without regard for the underlying industrial structure and geographical heterogeneity of the Italian economy. This has fostered perverse incentives and imbalances within Italy. Collective wage bargaining, and in particular the determination of base salaries, should be moved from the national to the regional level for all contracts, in the public and private sectors. The Mezzogiorno, which might superficially be seen as losing out from this policy, would actually gain the most in competitiveness terms. Furthermore, measures should be taken so that, in the long run, the Italian industrial structure evolves into a less fragmented small-company-based economy. This firm consolidation would likely expand the use of firm-level agreements and performance payments, and would improve Italy's productivity and competitiveness overall.
Download or read book The Italian Labor Market written by Mr.Martin Schindler and published by International Monetary Fund. This book was released on 2009-03-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Competitiveness and Wage Bargaining Reform in Italy written by Mr.Alvar Kangur and published by International Monetary Fund. This book was released on 2018-03-16 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Italy Quantifying the Benefits of a Comprehensive Reform Package written by Michal Andrle and published by International Monetary Fund. This book was released on 2018-03-16 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Wage bargaining under the new European Economic Governance written by Guy Van Gyes and published by ETUI. This book was released on 2015-09-28 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Italian Institutional Reforms A Public Choice Perspective written by Fabio Padovano and published by Springer Science & Business Media. This book was released on 2007-11-21 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Political Exchange and Bargaining Reform in Italy and Spain written by Óscar Molina Romo and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Wage bargaining structures in Italy and Spain changed significantly in the 1990s. This is usually seen as an employer-led response to exogenous pressures such as the Economic and Monetary Union (EMU). This article shows that while EMU acted as a catalyst for negotiated adjustments, changes in wage bargaining are better explained through factors endogenous to national systems, in particular union strategies and interactions in the policy-making arena. By means of policy concertation and political exchange, unions have shaped institutional change in collective bargaining so as to avoid a disorganized decentralization of labour relations
Download or read book Italy written by Michal Andrle and published by . This book was released on 2018 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Public Sector Pay and Regional Competitiveness written by Carlo Dell'Aringa and published by . This book was released on 2006 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates regional public-private wage differentials in Italy. Following the recent wave of reforms that significantly changed wage setting and employment relations in both sectors - increasing decentralization in collective bargaining and enforcing a privatization of public sector employment contracts - we present new estimates of the public-private wage gap by geographical location. We report both standardised public-private wage differentials, as well as estimates obtained using Geographically Weighted Regressions methods. We show that significant differences exist in public-private wage differentials across Italian regions, and that the latter can be partly explained by local labour market conditions affecting the private sector and only marginally the public sector. Differences in public-private wage differentials across regions are expected to determine several imbalances in terms of quot;waitquot; unemployment and recruitment problems in the different areas.
Download or read book The Politics of Wage Bargaining Reform in Italy and Spain 1991 2001 written by Óscar Molina Romo and published by . This book was released on 2003 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulatory Reform and Competitiveness in Europe Horizontal issues written by Giampaolo Galli and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Throughout the book the authors aim to show how the market can function more efficiently and offer policy recommendations to show how regulatory reform can improve competitiveness at the firm level as well as performance at the industry, national and EU levels.
Download or read book The Italian Labor Market written by Mr. Eswar Prasad and published by International Monetary Fund. This book was released on 1998-04-01 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a synthesis of existing and new empirical perspectives on the structure of the Italian labor market, using data at different levels of disaggregation. The analysis indicates that aggregate data mask considerable disparities in labor market outcomes across regions and demographic groups. The evolutions of sectoral wage and employment structures also point to some dimensions of labor market rigidities. A micro data set with individual data is then used to highlight key structural problems that affect labor supply and demand. The implications of these different strands of empirical analysis for the formulation and effective implementation of labor market policy are then discussed.
Download or read book The Organizational Consequences of Democracy written by Lucio Baccaro and published by . This book was released on 1999 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book OECD Employment Outlook 2018 written by OECD and published by OECD Publishing. This book was released on 2018-07-04 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2018 edition of the OECD Employment Outlook reviews labour market trends and prospects in OECD countries.
Download or read book Italy written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2017-07-27 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
