We use a panel dataset from the SHIW survey to study the features of household income in Italy. Income is described as a combination of deterministic and random components. In aggregate deterministic income grows at an average annual rate of 1.8% net of inflation, shocks feature stationarity, and the variance of persistent and transitory shocks is around 0.03. Income grows more quickly when the head is more highly educated; the volatility of shocks is sensitive to education and the job sector of the head. Only for public sector workers we find evidence of non-stationary shocks.
Measuring the Income Process in Italy
BUCCIOL, Alessandro
2012-01-01
Abstract
We use a panel dataset from the SHIW survey to study the features of household income in Italy. Income is described as a combination of deterministic and random components. In aggregate deterministic income grows at an average annual rate of 1.8% net of inflation, shocks feature stationarity, and the variance of persistent and transitory shocks is around 0.03. Income grows more quickly when the head is more highly educated; the volatility of shocks is sensitive to education and the job sector of the head. Only for public sector workers we find evidence of non-stationary shocks.
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