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Table 4 Decomposition of real output movements (1987Q1–1996Q4)

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

Episode Output growth Output components
   Efficiency Government Labour Investment Trend
Full episode 7.2 1.8 3.3 \(-\)4.3 \(-\)4.2 10.6
Episode specific
 1987Q1–1990Q2 10.3 6.8 0.7 \(-\)0.8 0.2 3.5
 1990Q3–1992Q4 \(-\)3.9 \(-\)4.6 1.4 \(-\)1.1 \(-\)2.1 2.4
 1993Q1–1996Q4 1.4 0.4 1.0 \(-\)2.2 \(-\)1.9 4.1
Annualized
 1987Q1–1990Q2 3.0 2.0 0.2 \(-\)0.2 0.1 1.0
 1990Q3–1992Q4 \(-\)1.5 \(-\)1.8 0.6 \(-\)0.4 \(-\)0.8 1.0
 1993Q1–1996Q4 0.3 0.1 0.3 \(-\)0.6 \(-\)0.5 1.0
  1. Numbers in per cent. Output growth measured in real per capita terms