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Why are labor markets in Spain and Germany so different?
| dc.creator | Casares Polo, Miguel | es_ES |
| dc.creator | Vázquez, Jesús | es_ES |
| dc.date.accessioned | 2017-05-12T10:38:00Z | |
| dc.date.available | 2017-05-12T10:38:00Z | |
| dc.date.issued | 2016 | |
| dc.identifier.uri | https://hdl.handle.net/2454/24268 | |
| dc.description.abstract | The volatility of unemployment fluctuations has been about 3 times higher in Spain than in Germany over the recent business cycles (1996-2013). In contrast, fluctuations of the rate of wage inflation were significantly more volatile in Germany than in Spain. We estimate a New-Keynesian model and find several explanatory factors: wage rigidity has been higher in Spain, the labor force has been more elastic in Germany than in Spain, large and persistent shocks augmenting the labor force have been estimated for Spain whereas in Germany there have been substantial shocks reducing the intensity of hours per worker, and the ECB’s policy design brought monetary shocks with much greater influence to the Spanish unemployment. | en |
| dc.description.sponsorship | Miguel Casares and Jesús Vázquez acknowledge financial support from the Spanish Ministerio de Economía (research projects ECO2015-64330-P and ECO2013-43773P, respectively). | en |
| dc.format.extent | 44 p. | |
| dc.format.mimetype | application/pdf | en |
| dc.language.iso | eng | en |
| dc.relation.ispartofseries | Documentos de Trabajo DE - ES Lan Gaiak | es |
| dc.relation.ispartofseries | 1602 | |
| dc.rights | CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) | en |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
| dc.subject | Unemployment | en |
| dc.subject | Germany versus Spain | en |
| dc.subject | DSGE models | en |
| dc.title | Why are labor markets in Spain and Germany so different? | en |
| dc.type | Documento de trabajo / Lan gaiak | es |
| dc.type | info:eu-repo/semantics/workingPaper | en |
| dc.contributor.department | Economía | es_ES |
| dc.contributor.department | Ekonomia | eu |
| dc.rights.accessRights | Acceso abierto / Sarbide irekia | es |
| dc.rights.accessRights | info:eu-repo/semantics/openAccess | en |
| dc.relation.projectID | info:eu-repo/grantAgreement/MINECO//ECO2015-64330-P/ES/ | en |
| dc.relation.projectID | info:eu-repo/grantAgreement/MINECO//ECO2013-43773-P/ES/ | en |
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