The Growth of the Italian economy, 1861-1913: Revised second-generation production-side estimates

The Institute of Economics will hold a meeting of its Seminar Series on Thursday, May 8, 2018: Stefano Fenoaltea from University of Turin will give a seminar on "The Growth of the Italian economy, 1861-1913: Revised second-generation production-side estimates".

Abstract: This paper presents revised production-side constant-price historical national accounts for Italy from Unification to 1913; these amend the extant estimates at 1911 prices by the present author on the one hand and Alberto Baffigi on the other. The time series are updated to allow for short-term movements of agricultural production, to include the results of recent research on industry, to remove conspicuous overestimates in the services sector, and more: estimated total product appears more volatile, and generally lower, than the extant series suggest.