Fig. 6
From: A neoclassical perspective on Switzerland’s 1990s stagnation
The role of taxes (1987Q1–1999Q4). LW and \({\widetilde{LW}}\) denote the labour and tax-adjusted labour wedges, respectively. EW and \({\widetilde{EW}}\) are the Euler and tax-adjusted Euler wedges, respectively. Y and \(Y^{CF}\) denote output and the counterfactual path of output when holding labour taxes fixed