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Seminars
Measures to enhance productivity growth. New developments
Universitat de València. Facultat d’Economia
Room: Salón de Grados (Ground floor)
Avenida de los Naranjos, s/n
46022 València
OBJECTIVES
The productivity puzzle -or the productivity slowdown- is one of the current debates among economists. The sluggish evolution of productivity after the financial and economic crisis in the developed economies has raised many different hypotheses that seek to understand the underpinnings of this phenomenon. Among these hypotheses outstand the lack of aggregated demand due to an excess of saving, insufficient investment opportunities, the lack of groundbreaking ideas or innovations, the misallocation of resources, or the mismeasurement of productivity due to the emergence of new type of products and production factors that are not included in the official statistics or which prices are not correctly measured.
This Workshop addresses several of these issues, trying to shed some light on the factors that determine the productivity slowdown, and which elements or variables could help to boost it. The contributions will be organized around the following topics. First, since the mid 2000’s a strand of the literature stressed the growing importance of intangible assets as drivers of productivity. In parallel, human capital has been always a hot topic, and new approaches for measuring human capital are focusing currently on skills instead of on the formal level of education. Evidence of the role of both intangibles and the new human capital metrics for growth analysis will be discussed. In addition, the relevance of the allocation of resources across firms and industries for productivity growth, and the implication of the cross-border fragmentation of the production process –the so-called global value chains– will also be issues of attention.
The Workshop will also address the measurement challenges economists are facing in the context of the new economy. The emergence of new tools such as big data and types of assets is changing the way to measure the economy. The Workshop will allow discussing how to measure two aspects: modern economies’ digital transformation and the use of big data, and the measurement of a concrete intangible such as brands.
The Workshop will deal with all these topics bringing together leading experts from the academia (King’s College London, University of Groningen, LUISS University in Rome, ISTAT and the University of Valencia) and from international organizations such as the OECD or the European Commission. The Workshop will be an excellent opportunity to discuss and to exchange ideas on the productivity challenges of developed economies.
PROGRAM
8:45—9:00
9:00-10:20
First session: Productivity in the aftermath of the great recession
Chair: Enrique Bigné, Universitat de València
“Intangible Assets and Economic Growth. Contribution to a regional database”
Matilde Mas, Universitat de València and Ivie
“Human Capital as a Driver of Growth”
Mary O’Mahony, King’s College London
“Productivity, Misallocation and the Financial Crisis: Evidence from Europe and the US”
Cecilia Jona-Lasinio, LUISS Guido Carli University and Istat, joint with Carol Corrado, Jonathan Haskel, and Ana Rincon Aznar
10:20-10:30
Coffee break
10:30-12:00
Second session: Global Value Chains, firms dynamics and R&D
Chair: Matilde Mas, Universitat de València and Ivie
“Productivity and business dynamics: an overview of the OECD MultiProd and DynEmp projects”
“Analyzing Global Value Chains using the World Input-Output Database”
Bart Los, University of Groningen
“Developments in the Measurement of R&D and Innovation”
12:00—12:30
Coffee Break
12:30—13:30
Third session: Measurement challenges in the new economy
Chair: Juan Fernández de Guevara, Universitat de València and Ivie
“Beyond official statistics to measure digital transformation. A big data approach to techno economic segment analysis in the PREDICT project”
Montserrat López-Cobo, European Commission, joint with Giuditta de Prato
“User generated content knowledge leads to brand evaluations”
13:30-13:40
Concluding remarks and closing
COORDINATOR
Matilde Mas, Universitat de València and Ivie
PARTICIPANTS
Enrique Bigné
Universitat de València
Flavio Calvino
OECD, Directorate for Science, Technology and Innovation. Productivity and Business Dynamics Division
Juan Fernández de Guevara
Universitat de València and Ivie
Cecilia Jona-Lasinio
LUISS Guido Carli University and Istat
Daniel Ker
OECD, Economic Analysis and Statistics Division. Directorate for Science, Technology and Innovation
Montserrat López-Cobo
European Commission
Bart Los
University of Groningen
Matilde Mas
Universitat de València and Ivie
Mary O’Mahony
King’s College London