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Italian National Accounts, 1861-2011

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  • Alberto Baffigi

    () (Bank of Italy)

Abstract

A great deal of new quantitative research has been produced over the last three decades which has radically changed the received interpretation of Italian economic development. Against this backdrop, the Bank of Italy, Istat and the University of Rome "Tor Vergata", together with academics from other institutions, developed a project to estimate new historical national accounts time series. Our reconstruction covers the 150 years following the political unification of Italy and is based on the most up-to-date results in the literature. It provides estimates of supply and uses at constant and at current prices. The documentation could not be reported fully in the following few pages. The details will be presented in full in a book to be published in the coming months, coauthored by all who contributed to the enterprise. In this paper I draw a general picture of the new time series. I focus on historically significant periods, using them as case studies in order to illustrate some features of the new data, both technical and substantial. A detailed, if incomplete, methodological account of our work is given in the appendices.

Suggested Citation

  • Alberto Baffigi, 2011. "Italian National Accounts, 1861-2011," Quaderni di storia economica (Economic History Working Papers) 18, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:workqs:qse_18
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    File URL: http://www.bancaditalia.it/pubblicazioni/quaderni-storia/2011-0018/QSEn_18.pdf
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    References listed on IDEAS

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    1. Alberto Baffigi, 2009. "Luigi Einaudi: teoria economica e legislazione sociale nel testo delle Lezioni (text in italian)," Quaderni di storia economica (Economic History Working Papers) 1, Bank of Italy, Economic Research and International Relations Area.
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    Cited by:

    1. da Rocha, Bruno T. & Solomou, Solomos, 2015. "The effects of systemic banking crises in the inter-war period," Journal of International Money and Finance, Elsevier, vol. 54(C), pages 35-49.
    2. Emanuele Felice, 2015. "La stima e l’interpretazione dei divari regionali nel lungo periodo: i risultati principali e alcune tracce di ricerca," SCIENZE REGIONALI, FrancoAngeli Editore, vol. 2015(3), pages 91-120.
    3. Emanuele Felice, 2017. "The Roots of a Dual Equilibrium: GDP, Productivity and Structural Change in the Italian Regions in the Long-run (1871-2011)," Quaderni di storia economica (Economic History Working Papers) 40, Bank of Italy, Economic Research and International Relations Area.
    4. Riccardo De Bonis & Fabio Farabullini & Miria Rocchelli & Alessandra Salvio, 2012. "A Quantitative Look at the Italian Banking System: Evidence from a New Dataset since 1861," Quaderni di storia economica (Economic History Working Papers) 26, Bank of Italy, Economic Research and International Relations Area.
    5. Stefano Usaï, 2012. "The Dynamics of Knowledge Externalities. Localized Technological Change in Italy," Regional Studies, Taylor & Francis Journals, vol. 46(7), pages 977-978, July.
    6. Felice, Emanuele & Carreras, Albert, 2012. "When did modernization begin? Italy's industrial growth reconsidered in light of new value-added series, 1911–1951," Explorations in Economic History, Elsevier, vol. 49(4), pages 443-460.
    7. Federico Barbiellini Amidei & Riccardo De Bonis & Miria Rocchelli & Alessandra Salvio & Massimiliano Stacchini, 2016. "Monetary aggregates in Italy since 1861: evidence from a new dataset," Questioni di Economia e Finanza (Occasional Papers) 328, Bank of Italy, Economic Research and International Relations Area.
    8. Michele Fratianni & Antonio Maria Rinaldi & Paolo Savona, 2013. "Una proposta per ridurre il fardello del debito pubblico italiano," Mo.Fi.R. Working Papers 81, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    9. Claire Giordano & Francesco Zollino, 2015. "A Historical Reconstruction of Capital and Labour in Italy, 1861-2013," Rivista di storia economica, Società editrice il Mulino, issue 2, pages 155-224.
    10. Giusseppe De Corso, 2015. "La política económica del fascismo italiano desde 1922 hasta 1943: breves consideraciones para su comprensión," TIEMPO & ECONOMÍA, UNIVERSIDAD DE BOGOTA JORGE TADEO LOZANO, vol. 2(2), pages 49-77, December.
    11. Stefano Fenoaltea, 2017. "The Fruits of Disaggregation: the Engineering Industry, Tariff Protection, and the Industrial Investment Cycle in Italy, 1861-1913," Quaderni di storia economica (Economic History Working Papers) 41, Bank of Italy, Economic Research and International Relations Area.
    12. Baffigi, Alberto & Bontempi, Maria Elena & Felice, Emanuele & Golinelli, Roberto, 2015. "The changing relationship between inflation and the economic cycle in Italy: 1861–2012," Explorations in Economic History, Elsevier, vol. 56(C), pages 53-70.
    13. Alberto Rinaldi & Barbara Pistoresi, 2014. "A note on Italy's current account sustainability: 1861-2010," Economics Bulletin, AccessEcon, vol. 34(2), pages 1197-1204.
    14. repec:eee:jpolmo:v:39:y:2017:i:6:p:1117-1140 is not listed on IDEAS

    More about this item

    Keywords

    Italy; National Accounts; Historical data reconstruction;

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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