2019/30 | LEM Working Paper Series | ||||||||||||||||
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Skill Gap, Mismatch, and the Dynamics of Italian Companies' Productivity |
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Lucrezia Fanti, Dario Guarascio and Matteo Tubiana |
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Keywords | |||||||||||||||||
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labour productivity; skill mismatch; firm-level heterogeneity; knowledge-base; organizational capabilities.
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JEL Classifications | |||||||||||||||||
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D22, D80, J24
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Abstract | |||||||||||||||||
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Relying on a unique integrated database, this work explores the relationship between labour productivity,
on one side; intensity and characteristics of companies’ skills need and degree of skill mismatch, on the
other. The analysis focuses on a representative sample of Italian limited liability companies observed
during the years 2012, 2014 and 2017. First, companies acknowledging the need to update their knowledge
base display a higher productivity vis-à-vis other firms. Second, when it comes to the skill need
distinguished by competence/knowledge domains (management, STEM, social and soft skills, technical
operatives and humanities) it emerges that companies looking for technical operative and social skills
show lower labour productivity as compared to other firms. On the contrary, companies characterized by
a need in managerial, STEM or humanities-related skills show higher productivity. Third, the ability to
match the skill need via new hiring is always positively correlated with firms’ productivity. This result
is confirmed across all the adopted specifications.
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