Multi-Factor Productivity Measurement

During the past 15 years, the Swiss economy faced sluggish growth and a rise of its unemployment rate. While still low compared to other countries the rise of unemployment triggered political discussions about the relative competitiveness of the Swiss economy. Much attention was then devoted to measurement issues of labor productivity. This focus on labor productivity partly resulted from a lack of data on capital stocks and multifactor productivity (MFP). Another factor was the lack of experience of countries like Switzerland regarding measurement issues and interpretation of results of capital stocks and MFP. In this context, the Organisation for Co-operation and Development (OECD) was a key driver when it published two manuals64 describing the concept and measurement of capital services and their relation to the measures of gross capital stock.

Productivity Measurement and Analysis

Multi-Factor Productivity Measurement

From Data Pitfalls to Problem Solving - the Swiss Way