This paper analyses the role of wage-wage spiral mechanism in wage determination, for twenty-one industries of the Italian economy, using annual data spanning the 1951-1993 period. Novel evidence is found in favour of the wage-leadership hypothesis in the Italian economy. This evidence supports Harcourt’s argument for the role of institutions in inflation, as well as the conflictualist approach to wage inflation put forward in Lavoie (1992).
The wage-wage spiral and wage determination: an empirical appraisal for Italy
DESTEFANIS, Sergio Pietro
1999-01-01
Abstract
This paper analyses the role of wage-wage spiral mechanism in wage determination, for twenty-one industries of the Italian economy, using annual data spanning the 1951-1993 period. Novel evidence is found in favour of the wage-leadership hypothesis in the Italian economy. This evidence supports Harcourt’s argument for the role of institutions in inflation, as well as the conflictualist approach to wage inflation put forward in Lavoie (1992).File in questo prodotto:
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