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 |