IDEAS home Printed from https://ideas.repec.org/a/gde/journl/gde_v57_n3-4_p359-386.html
   My bibliography  Save this article

Productivity Growth and the Effects of Recessions

Author

Listed:
  • Vincenzo Atella

    () (University of Rome "Tor Vergata")

  • Beniamino Quintieri

    (University of Rome "Tor Vergata")

Abstract

The aim of this paper is to study the main determinants of the productivity growth and its interaction with the business cycle. In particular we investigate which variables are responsible for productivity growth and if recessions are associated with a higher or lower pace of productivity improving activities. The results we obtained seem to suggest that i) recessions would be beneficial for productivity growth only if they are transitory and ii) the low explanatory capability of supply variables may be due to the difficulties in matching complex phenomena to very aggregated data. Our conclusion is that due to the embodiment of the technology in capital goods, skills and the organization of work, technology itself usually requires a reallocation of factors of production that is costly to the firm, and such adjustment episodes are often times of crises, during which the opportunity cost of introducing innovation is lower.

Suggested Citation

  • Vincenzo Atella & Beniamino Quintieri, 1998. "Productivity Growth and the Effects of Recessions," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 57(3-4), pages 359-386, December.
  • Handle: RePEc:gde:journl:gde_v57_n3-4_p359-386
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Carbonari, Lorenzo, 2012. "Quasi-fixed inputs in the Italian manufacturing: The case of the pharmaceutical industry," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 25(1), pages 51-69.
    2. G. Atzeni & OA Carboni, 2001. "The economic effects of information technology: firm level evidence from the italian case," Working Paper CRENoS 200114, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    3. Lorenzo Carbonari, 2009. "How variable is labor input in the Italian manufacturing: the case of the pharmaceutical industry," CEIS Research Paper 140, Tor Vergata University, CEIS, revised 30 Jun 2009.

    More about this item

    Keywords

    Solow residuals; opportunity cost theory; Italian economy;

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • L6 - Industrial Organization - - Industry Studies: Manufacturing

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gde:journl:gde_v57_n3-4_p359-386. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Erika Somma). General contact details of provider: http://www.gde.unibocconi.it/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.