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A time series analysis of labor productivity. Italy versus the European countries and the U.S

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  • Calcagnini, Giorgio
  • Travaglini, Giuseppe

Abstract

This paper aims at analyzing labor productivity per hour worked in the manufacturing industries of four industrialized countries, Germany, France, Italy and the U.S., between 1950 and 2010. It uses the common trends - common cycles approach to decompose series into trends and cycles. We find that the four national manufacturing sectors share three common trends and one common cycle. Further, we show that trend and cycle innovations have a negative relationship that supports the ‘opportunity cost’ approach to productivity growth. Finally, trend innovations are generally larger that cycle innovations, with the exception of Italy.

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  • Calcagnini, Giorgio & Travaglini, Giuseppe, 2014. "A time series analysis of labor productivity. Italy versus the European countries and the U.S," Economic Modelling, Elsevier, vol. 36(C), pages 622-628.
    • Handle: RePEc:eee:ecmode:v:36:y:2014:i:c:p:622-628
    DOI: 10.1016/j.econmod.2013.02.020
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    3. Giorgio Calcagnini & Germana Giombini & Giuseppe Travaglini, 2015. "The productivity gap among European countries," Working Papers 1510, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2015.
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    5. Sergio Paba & Giovanni Solinas & Luca Bonacini & Silvia Fareri, 2020. "Robots, Trade and Employment in Italian Local Labour Systems," Department of Economics 0183, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
    6. A. Sivakumar & N. Bagath Singh & D. Arulkirubakaran & P. Praveen Vijaya Raj, 2023. "Prediction of production facility priorities using Back Propagation Neural Network for bus body building industries: a post pandemic research article," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(1), pages 561-585, February.

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