Via Nazionale 91
Rome, 00184
Italy
Bank of Italy
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total factor productivity, allocative efficiency, capital, labour, Great Recession
labour productivity, sectoral disaggregation, international comparison, growth accounting
bribes, capital misallocation, labour misallocation, total factor productivity
Real effective exchange rate, equilibrium exchange rate, monetary union, regulation
Real Effective Exchange Rate, Equilibrium Exchange Rate, Monetary Union, Regulation
labour productivity, sectorial reallocation, growth accounting
banking crises, prudential regulation, economic theory
Price/non-price competitiveness indicators; measuring competitiveness; determinants of competitiveness
critical inputs, geoeconomics, globalisation, global value chains, trade fragmentation
business investment, uncertainty, monetary policy, capital misallocation
labour productivity, competition, Great Depression
international trade, pharmaceutical products, contract manufacturing
trade, firm heterogeneity, productivity, real effective exchange rates
labour, capital, historical national accounts, Italy
Exports, Competitiveness, Specialization, Firm Size
The study outlines the main challenges when setting up a “current account (CA) model” in order to measure external imbalances. This model is a reduced-form relationship between the CA balance and a set of CA fundamental and policy drivers, from which a CA “norm” may be derived and against which the
mark-ups, completion policy, wage bargaining, growth accounting
external imbalances, real effective exchange rate misalignments, labour misallocation, capital misallocation, economic development[comma separated]
gross fixed capital formation, institutional sectors, credit constraints
price competitiveness, real effective exchange rates, trade weights, local producer competition
non-construction investment, uncertainty, credit constraints
energy trade balance, energy import prices, current account balance, cyclically-adjusted current account
price competitiveness, cost competitiveness, real effective exchange rate, equilibrium exchange rate, misalignments
exports, competitiveness, specialization, firm size
export market shares, world goods trade, structural characteristics, Covid-19 pandemic
price-competitiveness indicators, real effective exchange rates, producer prices, destination markets, import competition
price competitiveness, non-price competitiveness, unit labour costs, producer prices
real investment, forecasting evaluation, firm survey data, vector error correction model
price competitiveness, real effective exchange rate, equilibrium exchange rate, external imbalances
national accounts, goods exports, soft indicators