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THE SPANISH CYCLICALITY OF THE USER COST OF LABOUR

Antonio Cutanda and Juan A. Sanchis Llopis ()
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Antonio Cutanda: Universidad de Valencia.

No 1914, Working Papers from Department of Applied Economics II, Universidad de Valencia

Abstract: In this paper we contribute to the study of the Spanish unemployment puzzle. We introduce the user cost of labour in the analysis (instead of wages) as this might be the relevant price for firms considering to hire a new worker. We construct a pseudo-panel by combining two Spanish microeconomic surveys (the labour and the family expenditure surveys), and estimate that the user cost is more procyclical than average wages.

Keywords: Cyclicality; user cost of labour; pseudo-panel data (search for similar items in EconPapers)
JEL-codes: C33 C36 E21 E24 J22 (search for similar items in EconPapers)
Date: 2019-11
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http://repecsrv.uv.es/paper/RePEc/pdf/eec_1914.pdf First version, 2019 (application/pdf)

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Journal Article: The Spanish cyclicality of the user cost of labour (2020) Downloads
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