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This paper presents an econometric disequilibrium model for Switzerland. Firms' decisions on production capacity, output and labor demand are analyzed in a vintage framework. The specification of labor supply allows for intertemporal substitution. The macro relationships take into account that...

This paper presents a disequilibrium model for Switzerland, focusing on the production sector and the associated spillover effects. Finns' decisions on output supply, labor demand and investment are analysed on basis of a vintage approach, involving pressure of demand, profitability and relative...

The agreement with the European Union on liberalized migration had sizable effects on the Swiss economy. Simulations with a macroeconometric model show that the agreement mitigated the incidence of labor shortages and stimulated business investment, giving rise to an increased growth potential....