Policy Considerations Drawn from Our Results

Alejandro García-Cintado (), Diego Romero-Ávila () and Carlos Usabiaga
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Alejandro García-Cintado: Pablo de Olavide University
Diego Romero-Ávila: Pablo de Olavide University

Chapter Chapter 4 in Spanish Regional Unemployment, 2014, pp 45-49 from Springer

Abstract: Abstract From the outset of the Spanish democracy up to the current crisis, the different Spanish governments have unsuccessfully tried to change the existing set of poor institutions. This fact, matched up with adverse shocks, has led to a high and persistent unemployment, especially in certain regions. From an economic policy perspective, such bad institutions call for policy measures aimed at improving labour market flexibility conditions which are thought to speed up the adjustment process in response to adverse shocks, thereby preventing upward shifts in unemployment from becoming permanent. Our Granger-causality analysis appears to confirm these claims, as many institutional variables (EPL, unions, unemployment benefits, minimum wage, labour cost pressure, mismatch, low productivity, insufficient ALMPs) explain well the evolution of the common factor driving regional unemployment.

Keywords: Spanish labour market; Policy implications (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-319-03686-1_4

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DOI: 10.1007/978-3-319-03686-1_4

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