A Quantitative Evaluation of INDUSTRIA 4.0 Through Simulation of QUEST III Italia

Clio Ciaschini ()
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Clio Ciaschini: Università Politecnica delle Marche, Ancona

Rivista Internazionale di Scienze Sociali, 2022, vol. 130, issue 3, 251-292

Abstract: This paper provides a quantitative macroeconomic evaluation of the national INDUSTRIA 4.0 plan, the set of Industry 4.0 policy measures implemented by the Italian government. The evaluation is performed using the European Commission’s endogenous growth model QUEST III with R&D, adapted to Italy. Innovation of process- and skill-biased technical change characterizes the fourth industrial revolution and determines human capital formation and the spillover of knowledge accumulation. A set of model parameters and variants has been determined, and four policy scenarios are taken into account under two denominations: Innovative Investments and Skill Achievements. The Italian economy persists in its path of around zero growth, on which it has been for a while. The main results highlight a decade of weak growth, without strong innovation policy interventions, and a low profile and precarious outcomes on the labour side.

Keywords: INDUSTRIA 4.0; QUEST III; R&D spillover of knowledge; DSGE; Skill-biased technical change; Wage premium (search for similar items in EconPapers)
JEL-codes: D02 E12 E17 F68 (search for similar items in EconPapers)
Date: 2022
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