Productivity Stagnation in a Wealthy Economy
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- Indbinding:
- Paperback
- Sideantal:
- 64
- Udgivet:
- 19. maj 2017
- Størrelse:
- 150x4x220 mm.
- Vægt:
- 113 g.
- 2-3 uger.
- 25. november 2024
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- 1 valgfrit digitalt ugeblad
- 20 timers lytning og læsning
- Adgang til 70.000+ titler
- Ingen binding
Abonnementet koster 75 kr./md.
Ingen binding og kan opsiges når som helst.
Beskrivelse af Productivity Stagnation in a Wealthy Economy
During the last two decades, Italy has lagged behind in production and productivity growth with respect to other rich countries. This seems to be in contrast with its notable elements of wealth and convergence predictions of modern growth theories. This work aims at identifying critical features of this puzzling case in a variant version of Solow¿s growth accounting where ¿true¿ index numbers derived from Afriat¿s approach allow for scale (dis)economies, (mis)allocation effects as well as technical (in)efficiency. The empirical results suggest that the relatively high technical and allocative inefficiencies in the Italian production system may be alleviated by eliminating the chronic vicious circle between underinvestment in human capital and depressingly low premiums in high-skilled labour rewards.
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