Measuring Growth of Labor Quality and the Quality-Adjusted Unemployment Rate in Switzerland
AbstractThis paper presents results on human capital accumulation for the Swiss economy. We find that the index of labor quality has grown at a rate of 0.5% per year from 1991 to 2006. The main sources are the growth in average levels of education and the passing of the baby boom cohort through the age structure of the workforce. Projections over the period 2006-2050 suggest that labor quality growth will slow down with time. We also calculate a quality-adjusted unemployment rate and find that the unemployment rate is reduced by about 0.3 pp when human capital accumulation is taken into account.
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Bibliographic InfoArticle provided by Duncker & Humblot, Berlin in its journal Applied Economics Quarterly.
Volume (Year): 55 (2009)
Issue (Month): 2 ()
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Web page: http://www.duncker-humblot.de
Other versions of this item:
- Thomas Bolli & Mathias Zurlinden, 2008. "Measuring growth of labour quality and the quality-adjusted unemployment rate in Switzerland," Working Papers 2008-13, Swiss National Bank.
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
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