This paper studies the extent of rent sharing in the Italian metal- mechanical industry by analyzing separately what occurs at each stage of wage negotiations. In particular,we evaluate how, through the bargaining process, aggregate and idiosyncraticproductivity shocks influence respectively centralized and decentralized wage negotiations. It turns out that while centralized agreements generate rent sharing, at the decentralized bargaining level this phenomenon is absent.
Rent sharing and bargaining levels: evidence from Italy / Pistoresi, Barbara; Strozzi, Chiara. - In: GIORNALE DEGLI ECONOMISTI E ANNALI DI ECONOMIA. - ISSN 0017-0097. - STAMPA. - 62:(2003), pp. 145-170.
Rent sharing and bargaining levels: evidence from Italy
PISTORESI, Barbara;STROZZI, Chiara
2003
Abstract
This paper studies the extent of rent sharing in the Italian metal- mechanical industry by analyzing separately what occurs at each stage of wage negotiations. In particular,we evaluate how, through the bargaining process, aggregate and idiosyncraticproductivity shocks influence respectively centralized and decentralized wage negotiations. It turns out that while centralized agreements generate rent sharing, at the decentralized bargaining level this phenomenon is absent.
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