Italian paper explores wage and unemployment relationship
Occasional paper stresses the importance of the choice of measures
Examining the relationship between wages and unemployment in the Italian labour market, an occasional paper published today (July 20) finds the specific wage measure used has "important consequences for the results".
In On the response of Italian wages to the unemployment rate, Alfonso Rosolia finds a measure of changes in wage rates based on national accounts is not as responsive to changes in unemployment as data on centrally bargained contract renewals.
"I conclude that the observed weak
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