The Economics of Firm Productivity

Concepts, Tools and Evidence

Carlo Altomonte (Universita Commerciale Luigi Bocconi, Milan), Filippo di Mauro

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English

Cambridge University Press
21 April 2022

Economics; Macroeconomics; Monetary economics; Economics of industrial organisation; Industry & industrial studies

Productivity varies widely between industries and countries, but even more so across individual firms within the same sectors. The challenge for governments is to strike the right balance between policies designed to increase overall productivity and policies designed to promote the reallocation of resources towards firms that could use them more effectively. The aim of this book is to provide the empirical evidence necessary in order to strike this policy balance. The authors do so by using a micro-aggregated dataset for 20 EU economies produced by CompNet, the Competitiveness Research Network, established some 10 years ago among major European institutions and a number of EU productivity boards, National Central Banks, National Statistical institutes, as well as academic Institutions. They call for pan-EU initiatives involving statistical offices and scholars to achieve a truly complete EU market for firm-level information on which to build solidly founded economic policies.

By: Carlo Altomonte (Universita Commerciale Luigi Bocconi Milan), Filippo di Mauro
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Edition: New edition
Dimensions: Height: 235mm, Width: 152mm, Spine: 16mm
Weight: 500g
ISBN: 9781108489232
ISBN 10: 1108489230
Pages: 250
Publication Date: 21 April 2022
Audience: College/higher education , Primary
Format: Hardback
Publisher's Status: Active

1. Introduction; 2. Basic concepts; 3. Productivity estimation; 4. Measuring market efficiency; 5. Sources of data; 6. Productivity and the financial environment; 7. Productivity and the labour market; 8. Productivity in a borderless world; 9. Productivity and competitive pressure; 10. Conclusion and final remarks.

Carlo Altomonte is Associate Professor of Economics at Bocconi University and non-resident fellow at Bruegel. He has acted as consultant for a number of international institutions, including the European Commission, the European Central Bank and the United Nations. Filippo di Mauro is the founder and chairman of CompNet, a leading forum for productivity research and provider of a top standard firm-level based dataset. He has been an economist and research manager in central banks (Bank of Italy, US Fed and ECB) and international organizations (IMF and ADB).

Reviews for The Economics of Firm Productivity: Concepts, Tools and Evidence

'If you want to see how many insights are obtainable from firm-level productivity analysis, read this book. The authors apply time-tested methods to CompNet data, shedding light on many important questions about how different firms operate and how markets react to such differences.' Chad Syverson, The University of Chicago 'Total factor productivity (TFP) is a force for economic growth. Yet, how that happens has long been a matter of controversy, due to disagreement on both concept and measurement. Traditionally estimated as a residual, TFP has been described as a measure of our ignorance. Altomonte and di Mauro convincingly argue that leveraging big datasets on firms boosts understanding of TFP as a driver of economic growth by reducing the scope for conceptual and measurement errors.' Gianmarco Ottaviano, Bocconi University