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An Aggregate Disequilibrium Model of the Labour Market: An Empirical Investigation for the Italian Economy
Author(s) -
Lucifora Claudio
Publication year - 1987
Publication title -
labour
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.403
H-Index - 34
eISSN - 1467-9914
pISSN - 1121-7081
DOI - 10.1111/j.1467-9914.1987.tb00106.x
Subject(s) - disequilibrium , economics , wage , aggregate (composite) , econometrics , economy , macroeconomics , labour economics , medicine , materials science , composite material , ophthalmology
This paper develops a partial disequilibrium model for the Italian economy. After a brief description of the theoretical framework adopted, the empirical model is specified and estimated. The hypothesis that the Italian labour market, in the period considered, was characterized by‘equilibrium’is tested and rejected. Amongst other factors, the unions‘pushfulness’played a very influential role in wage determination.