Seasonality and Capacity: An Application to Italy
April 1, 2000
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Summary
Information on seasonal frequencies can provide valuable insights for understanding economic fluctuations. This is particularly true for Italy, where the variability of production in manufacturing is extremely high and almost entirely due to seasonal factors. This paper discusses the option of exogenous seasonality resulting from changes in underlying technology and preferences, versus the possibility of endogenous seasonality arising because of synergies across agents. It then highlights the size of the seasonally-driven capacity slack and discusses its relevance from a welfare standpoint.
Subject: Business cycles, Economic growth, Economic sectors, Environment, Industrial production, Manufacturing, National accounts, Non-renewable resources, Production, Transportation
Keywords: aggregate production, business cycle, Business cycles, efficiency loss, growth rate, Industrial production, industry machinery sector, Italy, Manufacturing, manufacturing branch, Non-renewable resources, seasonality, time series, Transportation, unutilized capacity, WP
Pages:
27
Volume:
2000
DOI:
Issue:
080
Series:
Working Paper No. 2000/080
Stock No:
WPIEA0802000
ISBN:
9781451850291
ISSN:
1018-5941
