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Table 5 \(\Phi\)-statistics of phases before, during and after Swiss recessions

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

  \({\varvec{\Phi }}^{\varvec{Y}}_{{\varvec{A}}}\) \({\varvec{\Phi }}^{\varvec{Y}}_{{\varvec{L}}}\) \({\varvec{\Phi }}^{\varvec{Y}}_{{\varvec{X}}}\) \({\varvec{\Phi}} ^{\varvec{Y}}_{{\varvec{G}}}\)
1980Q1–1986Q4
 1980Q1–1981Q3 (pre-recession) 0.63 0.11 0.06 0.20
 1981Q4–1982Q4 (recession) 0.97 0.01 0.01 0.01
 1983Q3–1986Q4 (follow-up) 0.83 0.03 0.04 0.10
1999Q1–2007Q2
 1999Q1–2000Q4 (pre-recession) 0.61 0.10 0.10 0.19
 2001Q1–2003Q2 (recession) 0.75 0.11 0.10 0.04
 2003Q3–2007Q2 (follow-up) 0.50 0.11 0.14 0.25
2005Q1–2013Q2
 2005Q1–2008Q2 (pre-recession) 0.79 0.07 0.06 0.08
 2008Q3–2009Q2 (recession) 0.90 0.03 0.04 0.03
 2009Q3–2013Q2 (follow-up) 0.35 0.32 0.18 0.14
  1. \(\Phi ^q_j\) denotes the \(\Phi\)-statistics of the j-wedge-alone component of aggregate q (output, investment, or total hours). The subscripts ALXG denote the efficiency, labour, investment and government wedge