Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154929
Authors: 
Brunello, Giorgio
Lupi, Claudio
Ordine, Patrizia
Year of Publication: 
1998
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 71.1998
Abstract: 
In this paper we estimate the Italian NAIRU using annual data for the period 1951-1996. We find evidence consistent with aggregate wage setting in Italy depending only on the rate of unemployment prevailing in the Northern and Central areas of the country. There is evidence supporting the presence of a long-run co-integrating relationship among unemployment in the Northern and Central areas, the tax wedge, the real interest rate and a measure of union power. The response of unemployment to exogenous shocks is sluggish, suggesting that persistence is an important feature of the Italian labour market.
Subjects: 
Unemployment
Italy
NAIRU
Document Type: 
Working Paper

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