Il dibattito sulla legge di Verdoorn: alcuni risultati empirici usando l’analisi di cointegrazione

Romina Gambacorta

Rivista di Politica Economica, 2004, vol. 94, issue 3, 251-

Abstract: Since his formulation Verdoorn Law has been object of numerous criticisms. Most of them arise from the simultaneity bias, ,the static-dynamic paradox and the omission of the capital. Since most of the problems arise from non-stationarity of the data, the aim of this paper is to shed light on these aspects using cointegration analysis. The main results of the analysis, based on Italian industry data, are: simultaneity exists and the static-dynamic paradox only arises from a non-correct specification of the model. Finally, the introduction of the capital allows to conclude that in-creasing returns of scale exist.

JEL-codes: C32 O47 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (7)

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