Brandolini, Andrea; Casadio, Piero; Cipollone, Piero; … - In: Social Pacts, Employment and Growth. A Reappraisal of …
The chapter analyses the broad picture emerging from the 1993 incomes policy agreement in Italy as well as other policy actions (and omissions). The agreement was successful in producing a remarkable moderation of the relative price of labour - despite the reduction of the user cost of capital...