Le determinanti della produttività del lavoro nell’Area Euro

The economic policy implications deriving from the analysis of the productivity determinants of the manufacturing industry in the Euro Area go in the opposite direction from the recipes indicated by "mainstream" economists in the aftermath of the outbreak of the sovereign debt crisis (and summarized by the triad : deconstruction of the labor market, fiscal austerity and privatizations). The reabsorption of the structural imbalances that characterize the countries of the area requires a coordinated plan of public investments in the peripheries that favors the adoption of a production model based on research and innovation, and therefore on international cooperation, rather than on wage deflation and competition between "neighbors"