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The discussion about the long-run evolution of labor productivity in Switzerland is flawed because the available data on the input of labor is incoherent and incomplete. It is the aim of this paper to establish a consistent aggregate series of total hours worked covering 1950-2010. The new data...
From a theoretical perspective, the output gap is probably the most comprehensive and convincing concept to describe the cyclical position of an economy. Unfortunately, for practical purposes, the concept depends on the determination of potential output, which is an inherently unobservable...
Am 24. November 2013 stimmen die Schweizer Stimmbürgerinnen und Stimmbürger über die Volksinitiative "1:12 - Für gerechte Löhne" ab. Dieser Bericht leistet insbesondere empirische Grundlagenarbeit und analysiert die tatsächliche Lohnspanne in Schweizer Unternehmen mithilfe der Daten der...
From a theoretical perspective, the output gap is probably the most comprehensive and convincing concept to describe the cyclical position of an economy. Unfortunately, for practical purposes, the concept depends on the determination of potential output, which is an inherently unobservable...
This paper is the first to study the factors determining labor's share of income on the level of the individual firm, employing an unusually informative panel data set. The empirical examination is concerned with Switzerland which stands out as one of the very few developed countries with a...
While Switzerland's recent growth of employment was high in historical and international perspective, the reasons for this "job miracle" were not well understood. As the "miracle" was not anticipated by economic forecasters, it consequently resulted in systematic and persistent forecast errors....
This paper examines the linkages between real exchange rate movements and firms' skill demand. Real exchange rate movements may affect unskilled workers differently than skilled workers because of skill-specific adjustment costs, or because exchange rates lead to changes in relative factor...
Does increased policy uncertainty dampen investment plans of firms? We provide direct evidence on this question by examining the effects of an unexpectedly accepted and farreaching referendum in Switzerland in February 2014. The vote has put several economically relevant agreements between...
What is the effect of opening the labor market to foreign workers on the success of firms? We address this question by analyzing how firms in Switzerland were affected by the introduction of the free movement of persons with the European Union (EU) countries. This immigration reform granted all...