EconPapers    
Economics at your fingertips  
 

The Italian economic stagnation in a Kaldorian theoretical perspective

Guglielmo Forges Davanzati (), Rosario Patalano and Guido Traficante ()
Additional contact information
Guglielmo Forges Davanzati: University of Salento

Economia Politica: Journal of Analytical and Institutional Economics, 2019, vol. 36, issue 3, No 8, 861 pages

Abstract: Abstract This paper analyses the Italian economic stagnation in a Kaldorian framework. On the theoretical ground we propose an interpretation of the Italian economic stagnation based on the continuous reduction of aggregate demand and labour productivity. We also consider the role of the banking sector as a factor driving aggregate demand and, in turn, labour productivity. We estimate a VAR for the period 2002–2015 to analyse jointly the evolution of private consumption, real GDP, private investments, credit supply, labour compensation and productivity. Our main empirical finding is that aggregate demand and credit supply significantly affect the path of labour productivity, consistently with Kaldor–Verdoorn Law.

Keywords: Kaldor; Italy; Aggregate demand; Labour productivity (search for similar items in EconPapers)
JEL-codes: B52 E12 E6 J12 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1007/s40888-017-0084-0 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:epolit:v:36:y:2019:i:3:d:10.1007_s40888-017-0084-0

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/40888

DOI: 10.1007/s40888-017-0084-0

Access Statistics for this article

Economia Politica: Journal of Analytical and Institutional Economics is currently edited by Alberto Quadrio Curzio

More articles in Economia Politica: Journal of Analytical and Institutional Economics from Springer, Fondazione Edison
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2021-10-11
Handle: RePEc:spr:epolit:v:36:y:2019:i:3:d:10.1007_s40888-017-0084-0