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Table 9 Robustness: Decomposition of real output movements for \(\nu =0.5\) (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 5.2 4.3 \(-\)5.1 \(-\)5.5 11.7
Episode specific
 1987Q1–1990Q2 10.3 7.8 0.9 \(-\)3.2 1.2 3.5
 1990Q3–1992Q4 \(-\)3.9 \(-\)5.8 1.9 0.3 \(-\)2.8 2.4
 1993Q1–1997Q4 4.7 4.3 1.2 \(-\)2.4 \(-\)3.5 5.2
Annualized
 1987Q1–1990Q2 3.0 2.3 0.3 \(-\)0.9 0.4 1.0
 1990Q3–1992Q4 \(-\)1.5 \(-\)2.3 0.8 0.1 \(-\)1.1 1.0
 1993Q1–1997Q4 0.9 0.9 0.2 \(-\)0.5 \(-\)0.7 1.0
  1. Numbers in per cent. Output growth measured in real per capita terms