Seasonality and Capacity : An Application to Italy

Journal Issue

Volume/Issue:: 2000/80
Series:: IMF Working Papers
Author(s):: Federico Mini, and Guido De Blasio
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: April 2000
DOI:: http://dx.doi.org/10.5089/9781451850291.001
ISBN:: 9781451850291
ISSN:: 1018-5941
Page:: 27

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.

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