Franco Modigliani and Ezio Tarantelli on Wage Moderation and Political Exchange: A Lesson to Be Learned in the New Age of Inflation
回顾了莫迪利亚尼和塔兰泰利关于取消工资完全指数化的政策提案，该提案在1980年代意大利政治辩论中发挥关键作用，并探讨其基于规划通胀、社会对话和政治交换的经济政策思想对当今通胀时代的启示。
Abstract In this article, we highlight Franco Modigliani's contribution to the so-called Tarantelli Proposal, which aimed to dismantle the full indexation of wages to prices. This proposal played a crucial role in the Italian political debate of the mid-1980s and ultimately led to the elimination of full indexation. The proposal was part of a more ambitious policy program. We thus also explore Modigliani's support of Tarantelli's policy project, centered on programmed inflation, social dialogue, and political exchange between wage moderation and the unions’ participation in the design and implementation of economic policy. Finally, we highlight the relevance of Modigliani's and Tarantelli's ideas today.