Reconstructing The Past: Italy's Historical National Accounts, 1861-1913

Stefano Fenoaltea ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper summarizes the evolution of Italy’s historical national accounts, and presents an updated reconstruction of the production side, the expenditure side, and the composition of investment from Unification to the Great War. On the production side, the major improvements stem from the recovery of evidence on harvest fluctuations, which increases short-term volatility, and the removal of gross errors in the estimates for the services, which sharply reduces pre-War GDP. The expenditure-side disaggregation reaffirms the Kuznets- cycle path of fixed investment; the cut in GDP yields a cut in consumption, but does not imply a lower standard of living.

Keywords: Italy; Production; Measurement; Historical National Accounts (search for similar items in EconPapers)
JEL-codes: C13 E01 N01 (search for similar items in EconPapers)
Date: 2020-01
New Economics Papers: this item is included in nep-his and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:98350

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