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 |