IDEAS home Printed from https://ideas.repec.org/a/taf/apeclt/v13y2006i11p733-736.html
   My bibliography  Save this article

Wage flexibility and the EMU: a nonparametric and semiparametric analysis for the Spanish case

Author

Listed:
  • Adolfo Maza

Abstract

According to OCA theory, the creation of the EMU reinforces the role of wage flexibility as an adjustment instrument alternative to the exchange rate in order to mitigate the negative effects of asymmetric shocks. This paper uses the case of Spain as the frame of reference within the EMU - in order to ensure data homogeneity - and examines wage flexibility in the Spanish provinces using both nonparametric and semiparametric techniques. The main result of the paper is that the labour market appears to be quite rigid and, therefore, adverse shocks could have serious consequences in the future.

Suggested Citation

  • Adolfo Maza, 2006. "Wage flexibility and the EMU: a nonparametric and semiparametric analysis for the Spanish case," Applied Economics Letters, Taylor & Francis Journals, vol. 13(11), pages 733-736.
  • Handle: RePEc:taf:apeclt:v:13:y:2006:i:11:p:733-736
    DOI: 10.1080/13504850500407624
    as

    Download full text from publisher

    File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/13504850500407624&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Tamim Bayoumi & Barry Eichengreen, 1992. "Shocking Aspects of European Monetary Unification," NBER Working Papers 3949, National Bureau of Economic Research, Inc.
    2. Li, Qi & Stengos, Thanasis, 1996. "Semiparametric estimation of partially linear panel data models," Journal of Econometrics, Elsevier, vol. 71(1-2), pages 389-397.
    3. Bayoumi, Tamim & Taylor, Mark P, 1995. "Macro-economic Shocks, the ERM, and Tri-polarity," The Review of Economics and Statistics, MIT Press, vol. 77(2), pages 321-331, May.
    4. Fan, Yanqin & Ullah, Aman, 1999. "Asymptotic Normality of a Combined Regression Estimator," Journal of Multivariate Analysis, Elsevier, vol. 71(2), pages 191-240, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Maczulskij, Terhi, 2013. "Public–private sector wage differentials and the business cycle," Economic Systems, Elsevier, vol. 37(2), pages 284-301.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:13:y:2006:i:11:p:733-736. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst). General contact details of provider: http://www.tandfonline.com/RAEL20 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.