Download or read book Labor Costs and Corporate Investment in Italy written by Daniel Garcia-Macia and published by International Monetary Fund. This book was released on 2020-02-21 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recovery of private investment in Italy has lagged its euro area peers over the past decade. This paper examines the role of elevated labor costs in hindering the recovery. Specifically, labor costs rose faster than labor productivity prior to the global financial crisis and have remained high since, weighing on firms’ profits, capital returns, and thus capacity to invest. Empirical analysis provides evidence for the impact of wages on investment at the sectoral and firm levels. Sectoral wage growth seems unrelated to sectoral productivity growth, but is negatively associated with investment. Firm-level data permit a better identification—by exploiting the interaction between sectoral wage growth (exogenous to the firm) and the lagged labor share of the firm. A 1 percent increase in real wages is estimated to cause a 1/3 percent fall in fixed capital. Profits absorb only 1⁄2 of the cost increase, pointing to the role of liquidity constraints. These results highlight the need for labor market reform to reinvigorate investment, and thus labor productivity and job creation.
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 Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book Italy written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2020-03-20 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2020 Article IV Consultation with Italy reflects discussions with the Italian authorities in January 2020 and is based on the information available as of January 28, 2020. It focuses on Italy’s medium-term challenges and policy priorities and was prepared prior to the outbreak of COVID-19 in Italy. It, therefore, does not cover the outbreak or the related policy response, which has since become the overarching near-term priority. The outbreak has greatly amplified uncertainty and downside risks around the outlook. Staff is closely monitoring this health crisis and will continue to work on assessing its impact and the related policy response in Italy and globally. The overarching challenges are to raise growth and enhance resilience. The IMF staff projects growth in Italy to be the lowest in the European Union over the next five years. High public debt remains a key source of vulnerability. Substantial progress has been made in strengthening bank balance sheets, but important weaknesses remain. In order to durably raise growth and reduce vulnerabilities, Italy needs faster potential growth and medium-term fiscal consolidation.
Download or read book Business Conditions Digest written by and published by . This book was released on 1983 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business America written by and published by . This book was released on 1979 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes articles on international business opportunities.
Download or read book Italy Business Law Handbook Volume 1 Strategic Information and Basic Laws written by IBP USA and published by Lulu.com. This book was released on 2013-08 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Italy Business Law Handbook - Strategic Information and Basic Laws
Download or read book Overseas Business Reports written by and published by . This book was released on with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Italy Company Law and Regulations Handbook Strategic Information and Basic Regulations written by IBP, Inc. and published by Lulu.com. This book was released on 2016-11-06 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Italy Company Laws and Regulations Handbook - Strategic Information and Basic Laws
Download or read book Commerce America written by and published by . This book was released on 1978 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Marketing in France written by and published by . This book was released on 1978 with total page 732 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Factors Limiting U S Investment Abroad written by United States. Office of International Trade and published by . This book was released on 1953 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book San Marino Business Law Handbook Volume 1 Strategic Information and Basic Laws written by IBP USA and published by Lulu.com. This book was released on 2013-08 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: San Marino Business Law Handbook - Strategic Informtion and Basic Laws
Download or read book A History of Corporate Governance around the World written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-11-01 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.
Download or read book Balance of Payments 1965 written by United States. Congress. Senate. Committee on Banking and Currency. Subcommittee on International Finance and published by . This book was released on 1965 with total page 1242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Week written by and published by . This book was released on 2008 with total page 1118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business International written by and published by . This book was released on 1992 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt:
