Discussion Paper Details

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Title: Why is Spanish Unemployment so High?

Author(s): Juan J. Dolado and Juan F Jimeno

Publication Date: May 1995

Keyword(s): Persistence, Shocks, Spain and Unemployment

Programme Area(s): Human Resources

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.

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Bibliographic Reference

Dolado, J and Jimeno, J. 1995. 'Why is Spanish Unemployment so High?'. London, Centre for Economic Policy Research.