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The key role of the productive structure in the countercyclical productivity in Spain


  • Andres Maroto-Sanchez
  • Juan R. Cuadrado-Roura


One of the most controversial topics of the Spanish economy is the countercyclical behavior of its productivity, both in the expansive years and during the recent financial and economic crisis. Additionally, this countercyclical pattern is unique among the economies of its area. This letter considers one of the likely answers to this fact: the Spanish productive structure, which is characterized by sectors such as construction and some service industries.Â

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  • Andres Maroto-Sanchez & Juan R. Cuadrado-Roura, 2013. "The key role of the productive structure in the countercyclical productivity in Spain," Economics and Business Letters, Oviedo University Press, vol. 2(3), pages 86-93.
  • Handle: RePEc:ove:journl:aid:9962

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    1. Zarnowitz, Victor & Ozyildirim, Ataman, 2006. "Time series decomposition and measurement of business cycles, trends and growth cycles," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1717-1739, October.
    2. Uhlig, H.F.H.V.S. & Ravn, M., 1997. "On Adjusting the H-P Filter for the Frequency of Observations," Discussion Paper 1997-50, Tilburg University, Center for Economic Research.
    3. Hodrick, Robert J & Prescott, Edward C, 1997. "Postwar U.S. Business Cycles: An Empirical Investigation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(1), pages 1-16, February.
    4. J.R. Cuadrado-Roura, 2001. "Business Cycle and Service Industries: General Trends and the Spanish Case," The Service Industries Journal, Taylor & Francis Journals, vol. 21(1), pages 103-122, January.
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