In the present paper dynamic panel models for productivity analysis will be analyzed. Recent years have seen a relevant increase in studies on productivity. This is partly due to rising availability of longitudinal micro-level data. This paper is an attempt to give an answer to some questions about productivity dynamics and determinants, using the large data base of company accounts constructed by Research Center of Unioncamere. In our study we investigate the distribution of labor productivity in two important Italian manufacturing sectors. A new derivation of dynamic panel model starting from a Cobb-Douglas production function has been applied in this paper to discover the underlying generating process of productivity growth and to estimate the elasticities of productivity to personnel expenditure.
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