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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 Lobregad
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Jan Gottschalk
Publisher: Springer Science & Business Media
ISBN: 3540376798
Category : Business & Economics
Languages : en
Pages : 307
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Book Description
Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and modeling techniques inspired by new classical economics and real business cycle theory. It also probes in which direction models may be extended from here. Empirically, the book uses different econometric techniques to investigate the relevance and implications of different macroeconomic theories for German data. A key question this book investigates is the role of demand and supply side conditions for the increase in the German unemployment rate. On a policy level, the book relates the implications of the different theories to the ongoing debate on the appropriate roles of demand and supply side policies for curing the German unemployment problem.
Author: Juan José Dolado
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 52
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Book Description
Studies the joint behaviour of inflation and unemployment in Spain over the period 1964-1995.
Author: Olivier J. Blanchard
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 172
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Book Description
Is there a solution to Spanish unemployment? This report contends that reducing Spain's current unemployment rate of 25% to 5% within 10 years should be the primary focus of Spain's economic policy.
Author: Ángel Estrada
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 76
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Book Description
Author: Javier Andrés
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 52
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Book Description
Author: Juan Jimeno
Publisher: International Labour Organization
ISBN: 9789221087410
Category : Business & Economics
Languages : en
Pages : 154
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Book Description
Estudio donde se examinan las razones para la gran persistencia e incremento del desempleo en España a partir de los primeros años de la década de los setenta, centrándose particularmente en la flexibilidad como principal razón para la ineficacia del mercado laboral.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451812019
Category : Business & Economics
Languages : en
Pages : 122
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Book Description
This Selected Issues paper analyzes the sources of the persistence of geographical unemployment imbalances and low speed of adjustment to regional labor demand shocks in Spain. The paper argues that, under present labor market arrangements, these imbalances are unlikely to be corrected in the near future. In particular, the current wage bargaining system appears to be excessively centralized and to result in nationally set wages that are too high to reduce unemployment in high-unemployment areas. The paper also analyzes the May 1997 labor market reform.
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"--
