Skip to main content

Table 10 Robustness: Decomposition of real output movements for \(\nu =2\) (1987Q1–1997Q4)

From: A neoclassical perspective on Switzerland’s 1990s stagnation

Episode Output growth Output components
   Efficiency Government Labour Investment Trend
Full episode 10.5 4.7 2.5 \(-\)5.0 \(-\)3.4 11.7
Episode specific
 1987Q1–1990Q2 10.3 5.8 0.5 0.3 0.2 3.5
 1990Q3–1992Q4 \(-\)3.9 \(-\)3.8 1.1 \(-\)2.2 \(-\)1.4 2.4
 1993Q1–1997Q4 4.7 3.5 0.7 \(-\)2.7 \(-\)1.9 5.2
Annualized
 1987Q1–1990Q2 3.0 1.7 0.2 0.1 0.1 1.0
 1990Q3–1992Q4 \(-\)1.5 \(-\)1.5 0.4 \(-\)0.9 \(-\)0.6 1.0
 1993Q1–1997Q4 0.9 0.7 0.1 \(-\)0.5 \(-\)0.4 1.0
  1. Numbers in per cent. Output growth measured in real per capita terms