Patrizia
Battilani (Università degli studi di Bologna), Emanuele Felice (Universitat Autònoma de Barcelona) y Vera Zamagni (Università degli studi di Bologna) han publicado The value-added of service industry 1861-1951: the newseries at current prices and first interpretations. En su resumen leemos "This
paper presents the new yearly series of the value-added of services for Italy,
from 1861 to 1951, at current prices. For each sector, after discussing sources
and methodology, the results are compared with the early Istat (1957) series.
By looking at the production value of specific activities, it is possible to
reveal the strong underestimation of the early series. From 1861 to 1911, our
new estimate is consistently higher: the gap increases while the Italian
economy grows strongly, which may lead to a more favourable evaluation of the
contribution of services to the industrialization of the country. Between 1911
and 1938, our series is more cyclical, performing better in the twenties, worse
during the 1929 crisis, but then again showing faster recovery in the 1930s.
Finally, the changes between 1938 and 1951 are essentially due to the heavy
underestimation of services found in the early series for 1951."
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