Discussion paper

DP1184 Why is Spanish Unemployment so High?

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.

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Citation

Dolado, J and J Jimeno (1995), ‘DP1184 Why is Spanish Unemployment so High?‘, CEPR Discussion Paper No. 1184. CEPR Press, Paris & London. https://cepr.org/publications/dp1184