Inasprire il vincolo esterno Il Meccanismo europeo di stabilità e il mercato delle riforme

Un Superstato di polizia economica Nel corso degli anni l’Europa unita è divenuta un catalizzatore di riforme che elevano il principio di concorrenza a paradigma dello stare insieme […]

Eccesso di capacità e stagnazione secolare. Un nuovo framework per l’analisi

This paper aims to provide a first conceptual framework within which to explain the phenomenon of secular stagnation, highlighting the tendency towards a “chronic excess capacity” rather than referring, as in the mainstream analysis on the topic, to a “non-temporary excess of savings on the volume of private investments”. Our approach allows us to focus the role of mutual interactions between financial institutions and the real economy, as well as the power relations between the different economic actors.

Le incursioni della BCE sul mercato del lavoro italiano

In the last years, the ECB has tried to encourage reforms of the Italy’s labour market including the increasing use of bargaining at the enterprise level. The aim is to contain the growth of wages and to permit higher productivity growth. However, the ECB did not take into consideration the changes in the real variables. In fact after the euro’s adoption, the growth of real wages was lower than the productivity growth. Furthermore, the current incentives system for the decentralized bargaining, that provides a tax benefit on productivity bonuses, seems to increase the territorial dualism North-South.

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