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UID:5045bf2f5dcf072393ecb8adbed1199b
CATEGORIES:Seminars
CREATED:20260218T093411
SUMMARY:Lunch Seminar: Franco Peracchi (EIEF, Tor Vergata), Fabrizio Mattesini (EIEF, Tor Vergata), Jacopo Pitari (Tor Vergata)
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nRigid wages? Inflation and wage growth in Italy, 1974–2024\nAbstra
 ct\nIn this paper we use the rich information contained in the administrati
 ve archives of the Italian National Social Security Institute (INPS) to stu
 dy the relationship between inflation and wage growth in Italy over the las
 t 50 years. Our analysis uncovers a number of important facts about the Ita
 lian labor market. We find that during our sample period, the distribution 
 of nominal wage growth changed substantially, and as inflation went down, s
 o did the center and spread of this distribution. With the decrease of infl
 ation, the frequency of nominal wage cuts also increased, revealing a high 
 degree of wage flexibility achieved mainly through changes in non-standard 
 forms of compensation, such as bonuses and overtime. Our analysis is able t
 o uncover what type of worker manages to better defend themselves from infl
 ation. In particular, we find that stayers have a smaller probability of no
 minal and real wage cuts than movers, even if workers voluntarily quit thei
 r job. The empirical evidence we provide is consistent with the view that i
 nflation is a way to “grease the wheels of the labor market”.\n
DTSTAMP:20260415T202927Z
DTSTART:20260304T130000Z
DTEND:20260304T140000Z
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TRANSP:OPAQUE
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