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Italy: A crisis country of tomorrow? Insights from the Italian labor market

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  • Schrader, Klaus
  • Ulivelli, Marta

Abstract

We analyze the shortcomings of the Italian economy and of the labor market in particular against the backdrop of the widespread fear that Italy could turn into a second Greece and could trigger some kind of domino effect. The analysis shows that Italy is not a second Greece but the Italian economy is losing ground towards the majority of EU countries. The labor market is a mirror of Italy's lingering crisis: Mass unemployment, lack of perspective for young people, low labor force participation and a dwindling competitiveness. The labor market reforms which had been initiated to enhance labor mobility, to increase the incentives to work and to improve the employability of the unemployed are regarded as adequate but they should be completed to achieve the desired success. A delay of labor market and other essential structural reforms would hamper structural change and thereby diminish the prospects for economic growth that is required for the sustainability of Italy's debt burden.

Suggested Citation

  • Schrader, Klaus & Ulivelli, Marta, 2017. "Italy: A crisis country of tomorrow? Insights from the Italian labor market," Kiel Policy Brief 107, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkpb:107
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    References listed on IDEAS

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    1. Valeria Cirillo & Marta Fana & Dario Guarascio, 2017. "Labour market reforms in Italy: evaluating the effects of the Jobs Act," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 34(2), pages 211-232, August.
    2. Yosuke Jin & Patrick Lenain, 2015. "Labour market reform for more and better quality jobs in Italy," OECD Economics Department Working Papers 1266, OECD Publishing.
    3. Marco Leonardi & Massimo Pallini, 2013. "Un commento alla riforma Monti - Fornero," Rivista di Politica Economica, SIPI Spa, issue 1, pages 199-225, January-M.
    4. Werner Eichhorst & Paul Marx & Caroline Wehner, 2017. "Labor market reforms in Europe: towards more flexicure labor markets?," Journal for Labour Market Research, Springer;Institute for Employment Research/ Institut für Arbeitsmarkt- und Berufsforschung (IAB), vol. 51(1), pages 1-17, December.
    5. Schrader, Klaus & Laaser, Claus-Friedrich & Bencek, David, 2017. "Schwer zu retten: Griechenland im Krisenmodus," Kiel Policy Brief 103, Kiel Institute for the World Economy (IfW Kiel).
    6. International Monetary Fund, 2013. "Euro Area Policies: 2013 Article IV Consultation," IMF Staff Country Reports 2013/231, International Monetary Fund.
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    Cited by:

    1. Schrader, Klaus & Laaser, Claus-Friedrich, 2018. "Griechenland: Eine Rettungsbilanz," Kieler Beiträge zur Wirtschaftspolitik 17, Kiel Institute for the World Economy (IfW Kiel).
    2. Josué Diwambuena & Raquel Fonseca & Stefan Schubert, 2021. "Italian Labour Frictions and Wage Rigidities in an Estimated DSGE," BEMPS - Bozen Economics & Management Paper Series BEMPS88, Faculty of Economics and Management at the Free University of Bozen.
    3. Bofinger, Peter & Schnabel, Isabel & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2017. "Für eine zukunftsorientierte Wirtschaftspolitik. Jahresgutachten 2017/18 [Towards a Forward-Looking Economic Policy. Annual Report 2017/18]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201718.
    4. Josué Diwambuena & Francesco Ravazzolo, 2022. "What are the drivers of Labor Productivity?," BEMPS - Bozen Economics & Management Paper Series BEMPS86, Faculty of Economics and Management at the Free University of Bozen.
    5. Bencek, David & Schrader, Klaus, 2018. "Italien: Geringere Schuldenlasten durch mehr Wachstum?," Kiel Policy Brief 120, Kiel Institute for the World Economy (IfW Kiel).

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