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Long Run and Short Run Dynamics in Italian Manufacturing Labour Productivity

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Cesaroni, Tatiana
Pappalardo, Carmine

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Abstract

This paper examines structural changes in the Italian manufacturing sector, focusing labour productivity in recent decades. To this end it distinguishes between trend movements in the data using a multivariate unobserved components model. Changes relative importance of cyclical and trend components in labour productivity allow discrimination among the impacts of the factors affecting the performance of the manufacturing sector during the 1980s, 1990s and in the more recent period.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6795.

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Date of creation: Apr 2008
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Handle: RePEc:cpr:ceprdp:6795

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  1. Martin Neil Baily & Eric J. Bartelsman & John Haltiwanger, 2001. "Labor Productivity: Structural Change And Cyclical Dynamics," The Review of Economics and Statistics, MIT Press, vol. 83(3), pages 420-433, August. [Downloadable!] (restricted)
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  2. Tommaso Proietti & Alberto Musso & Thomas Westermann, 2007. "Estimating potential output and the output gap for the euro area: a model-based production function approach," Empirical Economics, Springer, vol. 33(1), pages 85-113, July. [Downloadable!] (restricted)
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  3. Harvey, A C & Jaeger, A, 1993. "Detrending, Stylized Facts and the Business Cycle," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 8(3), pages 231-47, July-Sept. [Downloadable!] (restricted)
  4. Baumol, William J, 1972. "Macroeconomics of Unbalanced Growth: Reply," American Economic Review, American Economic Association, vol. 62(1), pages 150, March.
  5. Francesco Daveri & Cecilia Jona-Lasinio, 2005. "Italy's Decline: Getting the Facts Right," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 64(4), pages 365-410, December. [Downloadable!]
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  6. Siem Jan Koopman & Neil Shephard & Jurgen A. Doornik, 1999. "Statistical algorithms for models in state space using SsfPack 2.2," Econometrics Journal, Royal Economic Society, vol. 2(1), pages 107-160.
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  7. Gerhard Runstler, 2004. "Modelling phase shifts among stochastic cycles," Econometrics Journal, Royal Economic Society, vol. 7(1), pages 232-248, 06. [Downloadable!] (restricted)
  8. Clark, Peter K., 1989. "Trend reversion in real output and unemployment," Journal of Econometrics, Elsevier, vol. 40(1), pages 15-32, January. [Downloadable!] (restricted)
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