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Multifactor Productivity and Labour Quality in Italy, 1981-2000

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Author Info

  • Andrea Brandolini

    () (Bank of Italy, Economic Research Department)

  • Piero Cipollone

    () (Bank of Italy, Economic Research Department)

Abstract

We investigate how the evidence for Italy from simple growth accounting exercises is modified by more accurate measurements of inputs. We describe the dynamics of total factor productivity in the last 20 years in Italy, and review theoretical and measurement issues that complicate the picture emerging from this simple exercise. We adjust the labour input for its composition and verify its impact on estimated multifactor productivity in the whole economy. We replicate the labour-quality adjustment for the industrial sector together with corrections for hours worked and capital utilisation. We find that a sizeable part of the observed growth of total factor productivity vanishes when these adjustments are applied. They are not sufficient, however, to overturn the evidence of a productivity slowdown in the Italian economy in the second half of the 1990s.

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Bibliographic Info

Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Temi di discussione (Economic working papers) with number 422.

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Date of creation: Oct 2001
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Handle: RePEc:bdi:wptemi:td_422_00

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Related research

Keywords: growth accounting; Solow residual; quality-adjusted labour input;

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References

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  1. Andrea Bassanini & Stefano Scarpetta & Ignazio Visco, 2000. "Knowledge, Technology and Economic Growth: Recent Evidence from OECD Countries," OECD Economics Department Working Papers 259, OECD Publishing.
  2. Stefano Scarpetta & Andrea Bassanini & Dirk Pilat & Paul Schreyer, 2000. "Economic Growth in the OECD Area: Recent Trends at the Aggregate and Sectoral Level," OECD Economics Department Working Papers 248, OECD Publishing.
  3. Andrea Brandolini & Piero Cipollone & Paolo Sestito, 2001. "Earnings Dispersion, Low Pay and Household Poverty in Italy, 1977-1998," Temi di discussione (Economic working papers) 427, Bank of Italy, Economic Research and International Relations Area.
  4. Andreas Hornstein, 1999. "Growth accounting with technological revolutions," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 1-22.
  5. Zvi Griliches, 1996. "The Discovery of the Residual: A Historical Note," Journal of Economic Literature, American Economic Association, vol. 34(3), pages 1324-1330, September.
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Citations

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Cited by:
  1. Athanasoglou, Panayiotis & Georgiou, Evangelia & Staikouras, Christos, 2008. "Assessing output and productivity growth in the banking industry," MPRA Paper 31996, University Library of Munich, Germany.
  2. Silvia Sgherri, 2005. "Long-Run Productivity Shifts and Cyclical Fluctuations: Evidence for Italy," IMF Working Papers 05/228, International Monetary Fund.
  3. Andrea Pozzi & Fabiano Schivardi, 2012. "Demand or Productivity: What Determines Firm Growth?," Development Working Papers 344, Centro Studi Luca d\'Agliano, University of Milano, revised 13 Nov 2012.
  4. Antonelli Cristiano & Barbiellini Amidei Federico, 2009. "Knowledge, innovation and localised technological change in Italy, 1950-1990," Dipartimento di Economia "S. Cognetti de Martiis" LEI & BRICK - Laboratorio di economia dell'innovazione "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo 200913, University of Turin.
  5. Mary J. Keeney, 2010. "A Quality Adjusted Measure of Labour Services for Ireland," The Economic and Social Review, Economic and Social Studies, vol. 41(2), pages 149-172.
  6. Matteo Bugamelli & Patrizio Pagano, 2004. "Barriers to investment in ICT," Applied Economics, Taylor and Francis Journals, vol. 36(20), pages 2275-2286.
  7. Raffaello Bronzini & Paolo Piselli, 2006. "Determinants of long-run regional productivity: the role of R&D, human capital and public infrastructure," Temi di discussione (Economic working papers) 597, Bank of Italy, Economic Research and International Relations Area.
  8. Bronzini, Raffaello & Piselli, Paolo, 2009. "Determinants of long-run regional productivity with geographical spillovers: The role of R&D, human capital and public infrastructure," Regional Science and Urban Economics, Elsevier, vol. 39(2), pages 187-199, March.
  9. Sterlacchini, Alessandro & Venturini, Francesco, 2011. "R&D and productivity in high-tech manufacturing: a comparison between Italy and Spain," MPRA Paper 30048, University Library of Munich, Germany.
  10. Altissimo, Filippo & Gaiotti, Eugenio & Locarno, Alberto, 2005. "Is money informative? Evidence from a large model used for policy analysis," Economic Modelling, Elsevier, vol. 22(2), pages 285-304, March.
  11. Francesco Aiello & Valeria Pupo & Fernanda Ricotta, 2012. "Explaining Tfp At Firm Level In Italy. Does Location Matter?," Working Papers 201202, Università della Calabria, Dipartimento di Scienze Economiche, Statistiche e Finanziarie (Ex Dipartimento di Economia e Statistica).

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