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Facts and Theories of the Italian Labour Market (1970‐1985): A Time Series Analysis of Wages, Employment and Prices
Author(s) -
Boca Daniela Del
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.tb00124.x
Subject(s) - economics , wage , labour supply , substitution (logic) , aggregate (composite) , econometrics , labour economics , computer science , materials science , composite material , programming language
ABSTRACT: ln this paper an attempt is made to determine whether observed patterns of intertemporal variability in a number of Italian labour market characteristics are consistent with the predictions forthcoming from three prominent models of aggregate labour market behaviour. The behavioral models included in the analysis are: a) intertemporal substitution labour supply, b) staggered wage contracts, and c) intertemporal labour demand with adjustment costs. The empirical results provide relatively more support for the validity of the adjustment cost model.