IDEAS home Printed from https://ideas.repec.org/p/bdi/workqs/qse_37.html
   My bibliography  Save this paper

A Historical Reconstruction of Capital and Labour in Italy, 1861-2013

Author

Listed:
  • Claire Giordano

    () (Bank of Italy, Economic Outlook Division, Directorate General for Economics, Statistics and Research)

  • Francesco Zollino

    () (Bank of Italy, Economic Outlook Division, Directorate General for Economics, Statistics and Research)

Abstract

In this paper we provide a detailed explanation of the methodology underlying the construction of a new labour and capital stock dataset for Italy since 1861. The existing seminal paper (Rossi, Sorgato and Toniolo 1993) only covered the period 1911-1990 for labour and 1890-1990 for capital; moreover, sectoral disaggregation was limited. The labour dataset presented here includes both headcount and full-time equivalent annual estimates and provides a ten-sector breakdown. Net capital stock annual estimates are instead disaggregated by asset type (transport equipment, machinery and equipment, and construction, in turn divided into residential and non-residential). We then analyse the key features of the structural change in the Italian economy over the more than 150 years since unification. This dataset, combined with the new historical national accounts time series published by the Bank of Italy, finally makes a sectoral analysis of Italy’s long-run development possible.

Suggested Citation

  • Claire Giordano & Francesco Zollino, 2016. "A Historical Reconstruction of Capital and Labour in Italy, 1861-2013," Quaderni di storia economica (Economic History Working Papers) 37, Bank of Italy, Economic Research and International Relations Area.
  • Handle: RePEc:bdi:workqs:qse_37
    as

    Download full text from publisher

    File URL: http://www.bancaditalia.it/pubblicazioni/quaderni-storia/2016-0037/QSE-37.pdf
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Olivier Blanchard & Francesco Giavazzi, 2003. "Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets," The Quarterly Journal of Economics, Oxford University Press, vol. 118(3), pages 879-907.
    2. Stephen Broadberry & Claire Giordano & Francesco Zollino, 2011. "A Sectoral Analysis of Italy's Development, 1861-2011," Quaderni di storia economica (Economic History Working Papers) 20, Bank of Italy, Economic Research and International Relations Area.
    3. Claire Giordano & Francesco Zollino, 2017. "Macroeconomic estimates of Italy’s mark-ups in the long-run, 1861-2012," Quaderni di storia economica (Economic History Working Papers) 39, Bank of Italy, Economic Research and International Relations Area.
    4. Ghazala Azmat & Alan Manning & John Van Reenen, 2012. "Privatization and the Decline of Labour's Share: International Evidence from Network Industries," Economica, London School of Economics and Political Science, vol. 79(315), pages 470-492, July.
    5. 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.
    6. Giulio Cainelli & Marco Stampini, 2002. "I censimenti industriali in Italia (1911-1991). Problemi di raccordo ed alcune evidenze empiriche a livello territoriale," Rivista di storia economica, Società editrice il Mulino, issue 2, pages 217-238.
    7. Fenoaltea, Stefano, 1982. "The Growth of the Utilities Industries in Italy, 1861–1913," The Journal of Economic History, Cambridge University Press, vol. 42(03), pages 601-627, September.
    8. Nicola Rossi & Gianni Toniolo, 1992. "Catching up or falling behind? Italy's economic growth, 1895-1947," Economic History Review, Economic History Society, vol. 45(3), pages 537-563, August.
    9. Hatton, Timothy J. & Williamson, Jeffrey G., 1998. "The Age of Mass Migration: Causes and Economic Impact," OUP Catalogue, Oxford University Press, number 9780195116519.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Fabio Clementi & Marco Gallegati & Mauro Gallegati, 2015. "Growth and Cycles of the Italian Economy Since 1861: The New Evidence," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 1(1), pages 25-59, March.
    2. Giordano, Claire & Giugliano, Ferdinando, 2015. "A tale of two Fascisms: Labour productivity growth and competition policy in Italy, 1911–1951," Explorations in Economic History, Elsevier, vol. 55(C), pages 25-38.
    3. Marianna Riggi & Sergio Santoro, 2015. "On the Slope and the Persistence of the Italian Phillips Curve," International Journal of Central Banking, International Journal of Central Banking, vol. 11(2), pages 157-197, March.
    4. Claire Giordano & Francesco Zollino, 2017. "Macroeconomic estimates of Italy’s mark-ups in the long-run, 1861-2012," Quaderni di storia economica (Economic History Working Papers) 39, Bank of Italy, Economic Research and International Relations Area.
    5. Fenoaltea, Stefano, 2017. "The Growth of the Italian Economy, 1861-1913: Revised Second-Generation Production-Side Estimates," MPRA Paper 83508, University Library of Munich, Germany.
    6. Giulia Mancini, 2017. "Women’s labor force participation in Italy, 1861-2016," HHB Working Papers Series 8, The Historical Household Budgets Project.

    More about this item

    Keywords

    labour; capital; historical national accounts; Italy;

    JEL classification:

    • N00 - Economic History - - General - - - General
    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:bdi:workqs:qse_37. 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: (). General contact details of provider: http://edirc.repec.org/data/bdigvit.html .

    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.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with 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.