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Productivity and economic growth in Switzerland 1991-2005

Author

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  • Barbara Rudolf
  • Mathias Zurlinden

Abstract

In this paper, we analyse the sources of economic growth in Switzerland during the period 1991-2005. The results suggest that labour input and capital input contribute 0.57 pp and 0.45 pp, respectively, to the average annual GDP growth of 1.28%. The remaining 0.25 pp represent growth in multi-factor productivity, which is calculated as a residual. The estimate of growth in multi-factor productivity is lower than in previous studies because our measure of labour input takes changes in labour quality into account. Changes in labour quality explain 0.39 pp of the 0.45 pp contribution from labour input.

Suggested Citation

  • Barbara Rudolf & Mathias Zurlinden, 2009. "Productivity and economic growth in Switzerland 1991-2005," Working Papers 2009-13, Swiss National Bank.
  • Handle: RePEc:snb:snbwpa:2009-13
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    Keywords

    growth accounting; multi-factor productivity; capital services; constant-quality labour;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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