In this work we analyse the common dynamics properties of wage inflation, price inflation, unemployment and labour productivity using Italian annual data: 1960-90. Applying cointegration technique we test for the presence of a wage equation and a proce mark up equation. The overall conclusion is that wage inflation does not contribute in explaining the price inflation process and the traditional mark up view of inflation is not supported by the data. The policy implication is that monetary policy need not respond to wage data because they do not contain additional information about the future path of inflation.

Modelling wage growth dynamics in Italy: 1960 1990 / D`amato, M.; Pistoresi, Barbara. - In: LABOUR. - ISSN 1121-7081. - STAMPA. - 10:(1996), pp. 375-405.

Modelling wage growth dynamics in Italy: 1960 1990

PISTORESI, Barbara
1996

Abstract

In this work we analyse the common dynamics properties of wage inflation, price inflation, unemployment and labour productivity using Italian annual data: 1960-90. Applying cointegration technique we test for the presence of a wage equation and a proce mark up equation. The overall conclusion is that wage inflation does not contribute in explaining the price inflation process and the traditional mark up view of inflation is not supported by the data. The policy implication is that monetary policy need not respond to wage data because they do not contain additional information about the future path of inflation.
1996
10
375
405
Modelling wage growth dynamics in Italy: 1960 1990 / D`amato, M.; Pistoresi, Barbara. - In: LABOUR. - ISSN 1121-7081. - STAMPA. - 10:(1996), pp. 375-405.
D`amato, M.; Pistoresi, Barbara
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11380/19227
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