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Measuring growth of labour quality and the quality-adjusted unemployment rate in Switzerland

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  • Thomas Bolli
  • Mathias Zurlinden

Abstract

This paper presents results on human capital accumulation for the Swiss economy. We find that the index of labour 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 labour 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 Info

Paper provided by Swiss National Bank in its series Working Papers with number 2008-13.

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Length: 39 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:snb:snbwpa:2008-13

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Keywords: human capital; labour quality; unemployment rate;

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References

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  1. John M. Abowd & Francis Kramarz & David N. Margolis, 1999. "High Wage Workers and High Wage Firms," Econometrica, Econometric Society, vol. 67(2), pages 251-334, March.
  2. Dorothe Bonjour & Michael Gerfin, 2001. "The unequal distribution of unequal pay - An empirical analysis of the gender wage gap in Switzerland," Empirical Economics, Springer, vol. 26(2), pages 407-427.
  3. Schwerdt, Guido & Turunen, Jarkko, 2006. "Growth in Euro Area Labour Quality," CEPR Discussion Papers 5509, C.E.P.R. Discussion Papers.
  4. Daniel Aaronson & Daniel Sullivan, 2002. "Growth in worker quality," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Feb.
  5. Venetia Bell & Pablo Burriel-Llombart & Jerry Jones, 2005. "A quality-adjusted labour input series for the United Kingdom (1975-2002)," Bank of England working papers 280, Bank of England.
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Cited by:
  1. Thomas Bolli & Mathias Zurlinden, 2012. "Measurement of labour quality growth caused by unobservable characteristics," Applied Economics, Taylor & Francis Journals, vol. 44(18), pages 2297-2308, June.

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