This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

On Understanding Sources of Growth and Output Gaps for Switzerland

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Fox, Kevin () (University of New South Wales)
Zurlinden, Mathias () (Swiss National Bank)
Abstract

In this paper, we measure the main factors explaining nominal output growth and deviations from trend output in Switzerland over the period 1980 to 2001. The decompositions are based on the GDP function and its dual, the national income function. The results indicate that whereas nominal output growth frequently reflects movements in domestic prices, it is capital formation that makes the largest contribution to real output growth, followed by gains in total factor productivity and improvements in the terms of trade. Deviations of real output from trend appear to have been driven by deviations of labour utilization, of productivity and, during the first decade, of the terms of trade from their respective long-run trends. The important role attributed to productivity and the terms of trade support the view that the customary measures of the output gap should be used with caution when formulating monetary policy.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.snb.ch/n/mmr/reference/working_paper_2006_10/source/working_paper_2006_10.n.pdf
File Format: text/plain
File Function: Full text
Download Restriction: no

Publisher Info
Paper provided by Swiss National Bank in its series Working Papers with number 2006-10.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 32 pages
Date of creation: 05 May 2006
Date of revision:
Handle: RePEc:ris:snbwpa:2006_010

Contact details of provider:
Postal: B�rsenstrasse 15, P. O. Box, CH - 8022 Z�rich
Phone: +41 44 631 31 11
Fax: +41 44 631 39 11
Email:
Web page: http://www.snb.ch/
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: (Enzo Rossi).

Related research
Keywords: GDP growth; output gap; index numbers; welfare;

Find related papers by JEL classification:
C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

Statistics
Access and download statistics

Did you know? Springer Verlag was the first commercial publisher to be listed on RePEc.

This page was last updated on 2009-12-16.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.