The last fifteen years of stagnation in Italy: a business cycle accounting perspective

Dynamic Approaches to Global Economic Challenges

“…This is widely recognized by numerous studies which use different methods to show the unambiguous role of the stagnant TFP in the slowdown of the labor productivity. Noticeably, these results are fully confirmed almost a decade later by Orsi and Turino (2014) who apply the business cycle accounting procedure by Chari et al (2007) and show that the labor input actually improved considerably starting in the mid-nineties. Daveri and Jona Lasinio (2006) perform a decomposition of labor productivity growth and show that falling labor productivity and not labor input is the reason for the observed decline in real per-capita income growth.…”

“…Italy in fact may have suffered from globalization because its competitiveness has been challenged by the emergence 7 Papers that, with different approaches, confirm the employment-productivity trade-off for Italy are Boeri and Garibaldi (2007), Lucidi and Kleinkrecht (2010), Lucidi (2012), Jona Lasinio and Vallanti (2011) and, more recently, Orsi and Turino (2014). Italy in fact may have suffered from globalization because its competitiveness has been challenged by the emergence 7 Papers that, with different approaches, confirm the employment-productivity trade-off for Italy are Boeri and Garibaldi (2007), Lucidi and Kleinkrecht (2010), Lucidi (2012), Jona Lasinio and Vallanti (2011) and, more recently, Orsi and Turino (2014).…”

The Impact of the Eurozone Crisis on a Periphery Country: The Case of Italy

“…In addition, a recent paper by Orsi and Turino (2013) investigates on per capita output growth. In their inquiry, covering the time span 1982-2008, these authors identify two different periods, in which a jobless growth regime during the 1982-1994 years was followed by stagnation associated with a significant rise in employment in the period 1995-2008 of growthless job creation.…”

The Italian productivity slowdown in a Real Business Cycle perspective

“…wedge (Orsi and Turino, 2010) and implying long-run shifts in the rate of technological progress (Sgherri, 2005) In general, the TFP drop seems to involve the main non-ICT industries and ICT producers (Venturini, 2004). The italian productivity drop in manufacturing in the late 1990s has also been related to factors a¤ecting the technology catch-up (i.e.…”