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Author: Mr.Jeffrey R. Franks
Publisher: International Monetary Fund
ISBN: 1451852576
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures and their likely Impact. A demographic shift in recent years has produced a large rise in female labor force participation and a decrease in agricultural jobs to which the economy has been unable to adjust. The effects of generous unemployment benefits and the large underground economy may explain 6–12 percentage points of the resulting unemployment, but the remainder must be explained by failures and rigidities in the labor market. The paper presents econometric evidence that unemployment displays hysteresis, and that wages are not responsive to changes in the unemployment rate. This evidence supports the claim that insider-outsider factors and rigidities in the legal structure of the labor market are responsible for much of the high unemployment rate. Recent reforms have improved the functioning of the labor market, but they are unlikely to be sufficient to reduce unemployment to single digit rates without further action.
Author: Mr.Jeffrey R. Franks
Publisher: International Monetary Fund
ISBN: 1451852576
Category : Business & Economics
Languages : en
Pages : 42
Get Book Here
Book Description
Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures and their likely Impact. A demographic shift in recent years has produced a large rise in female labor force participation and a decrease in agricultural jobs to which the economy has been unable to adjust. The effects of generous unemployment benefits and the large underground economy may explain 6–12 percentage points of the resulting unemployment, but the remainder must be explained by failures and rigidities in the labor market. The paper presents econometric evidence that unemployment displays hysteresis, and that wages are not responsive to changes in the unemployment rate. This evidence supports the claim that insider-outsider factors and rigidities in the legal structure of the labor market are responsible for much of the high unemployment rate. Recent reforms have improved the functioning of the labor market, but they are unlikely to be sufficient to reduce unemployment to single digit rates without further action.
Author: Juan José Dolado
Publisher:
ISBN:
Category : Desempleo juvenil - Espaą
Languages : en
Pages : 44
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Book Description
Author: Juan José Dolado
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 48
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Book Description
Author: Diego Muro
Publisher:
ISBN: 0198826931
Category : Political Science
Languages : en
Pages : 765
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Book Description
"Oxford Handbooks offer authoritative and up-to-date surveys of original research in a particular subject area. Specially commissioned essays from leading figures in the discipline give critical examinations of the progress and direction of debates, as well as a foundation for future research. Oxford Handbooks provide scholars and graduate students with compelling new perspectives upon a wide range of subjects in the humanities, social sciences, and sciences"--
Author: Jon Elster
Publisher: Cambridge University Press
ISBN: 1107071186
Category : Philosophy
Languages : en
Pages : 517
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Book Description
A substantially revised edition of Jon Elster's critically acclaimed book exploring the nature of social behavior and the social sciences.
Author: Samuel Bentolila
Publisher:
ISBN:
Category : Labor mobility
Languages : en
Pages : 76
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Book Description
Author: Ms.Florence Jaumotte
Publisher: International Monetary Fund
ISBN: 1455211893
Category : Business & Economics
Languages : en
Pages : 53
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Book Description
The Spanish labor market is not working: the unemployment rate is structurally very high; wages are not very responsive to labor market conditions, causing a high cyclicality of unemployment; and the labor market is highly dual. Compared with the EU15, Spanish labor market institutions and policies stand out by the structure of its collective bargaining, which occurs mostly at an intermediate level, and by very high severance payments for permanent workers. Based on a quantitative analysis, the paper shows that moving away from the intermediate level of bargaining would go a long way toward bringing the unemployment rate closer to the EU15 average. The key reform needed to reduce the share of temporary workers is reducing employment protection of permanent workers. Substantially reforming the collective bargaining system and reducing the protection of permanent workers are likely to be highly complementary to secure a substantial reduction in the unemployment rate. The recent 2010 labor market reform attempts to address these issues, although its effects are still to materialize.
Author: Dimitri G. Demekas
Publisher:
ISBN:
Category : Greece
Languages : en
Pages : 92
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Book Description
Author: Stephen Machin
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 68
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451843208
Category : Business & Economics
Languages : en
Pages : 94
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Book Description
Authors of Working Papers are normally staff members of the Fund or consultants, although on occasion outside authors may collaborate with a staff member in writing a paper. The views expressed in the Working Papers or their summaries are, however, those of the authors and should not necessarily be interpreted as representing the views of the Fund. Copies of individual Working Papers and information on subscriptions to the annual series of Working Papers may be obtained from IMF Publication Services, International Monetary Fund, 700 19th Street, Washington, D.C. 20431. Telephone: (202) 623-7430 Telefax: (202) 623-7201 This compilation of summaries of Working Papers released during July-December 1994 is being issued as a part of the Working Paper series. It is designed to provide the reader with an overview of the research work performed by the staff during the period.
