Switzerland's growth deficit: A real problem

A recent paper by Ulrich Kohli of the Swiss National Bank "Switzerland's growth deficit: A real problem - but only half as bad as it looks" says the anaemic growth performance of Switzerland over the past quarter of a century is a cause for concern.

However, to some extent, this poor performance is an optical illusion, the paper says. The first part of the paper raises some measurement issues and shows that the index of real GDP underestimates the growth of real value added and real income in our

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