Gaetano Basso (Bank of Italy)
Davide Dottori and Sara Formai
This study examines the impact of working from home on firm-level outcomes. It uses detailed survey data from Italian firms before the pandemic and up to 2023. Estimates using a novel instrumental variable suggest that, on average, the effects on labour productivity, employment dynamics and composition, wages and other costs are negligible. However, the analysis shows that a subset of firms experienced benefits in terms of labour productivity.