Why is Spanish Unemployment so High?

Juan Dolado and Juan F Jimeno

No 1184, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: In this paper we analyse the underlying causes behind Spanish unemployment which is now at 24%. We interpret this unfortunate outcome as the result of a series of adverse shocks, compounded by disinflationary policies and by a flawed system of labour market institutions. Our aim is to explain the main sources of shocks to unemployment, and the most relevant features of their transmission mechanism. To do so we use a structural VAR approach in modelling the Spanish labour market.

Keywords: Persistence; Shocks; Spain; Unemployment (search for similar items in EconPapers)
JEL-codes: E6 J3 J4 J5 (search for similar items in EconPapers)
Date: 1995-05
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Citations: View citations in EconPapers (15)

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Working Paper: Why Is Spanish Unemployment So High? (1995)
Working Paper: Why Is Spanish Unemployment so High? (1995)
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