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On the Production Function for Italy

Giuseppe Albanese () and Marco Sorge ()

Rivista Internazionale di Scienze Sociali, 2010, vol. 118, issue 4, 401-416

Abstract: In this paper, we assess the ability of the Cobb-Douglas framework to match the empirical evidence for Italy. While the growth accounting approach requires the validity of this functional form and of its parameters, we conduct econometric analysis on a panel of regions for the years 2000- 2006 and suggest (i) an alternative specification and (ii) a twofold time series data construction, under which the Cobb-Douglas framework appears to yield the most credible and well-specified formulation of the Italian production function.

Keywords: Production function; Total Factor Productivity; Capital stocks. (search for similar items in EconPapers)
JEL-codes: E23 O47 (search for similar items in EconPapers)
Date: 2010
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