haku: @author Dolado, J. J. / yhteensä: 4
viite: 3 / 4
| Tekijä: | Dolado, J. J. Jimeno, J. F. |
| Otsikko: | The causes of Spanish unemployment: A structural VAR approach |
| Lehti: | European Economic Review
1997 : JUL, VOL. 41:7, p. 1281-1307 |
| Asiasana: | UNEMPLOYMENT LABOUR MARKETS SPAIN |
| Kieli: | eng |
| Tiivistelmä: | In the paper, the main causes of Spanish unemployment are reviewed. The causes are weigted by estimating a simple macroeconomic model using the structural VAR methodology. Different causes of unemployment are associated with shocks of different nature which have long-lasting effects due to full hysteresis. It is claimed in the paper that such an extreme assumption on 'state-dependency' is reasonable, at least as a local approximation. The results suggest that the combination of a plausible mixture of different types of shock and extreme persistence in their propagation mechanisms satisfactorily can explain the dismal performance of the Spanish labour market during the last two decades. |
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