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Policy Considerations Drawn from Our Results

In: Spanish Regional Unemployment

Author

Listed:
  • Alejandro García-Cintado

    (Pablo de Olavide University)

  • Diego Romero-Ávila

    (Pablo de Olavide University)

  • Carlos Usabiaga

    (Pablo de Olavide University)

Abstract

From the outset of the Spanish democracy up to the current crisis, the different Spanish governments have unsuccessfully tried to change the existing set of poor institutions. This fact, matched up with adverse shocks, has led to a high and persistent unemployment, especially in certain regions. From an economic policy perspective, such bad institutions call for policy measures aimed at improving labour market flexibility conditions which are thought to speed up the adjustment process in response to adverse shocks, thereby preventing upward shifts in unemployment from becoming permanent. Our Granger-causality analysis appears to confirm these claims, as many institutional variables (EPL, unions, unemployment benefits, minimum wage, labour cost pressure, mismatch, low productivity, insufficient ALMPs) explain well the evolution of the common factor driving regional unemployment.

Suggested Citation

  • Alejandro García-Cintado & Diego Romero-Ávila & Carlos Usabiaga, 2014. "Policy Considerations Drawn from Our Results," SpringerBriefs in Economics, in: Spanish Regional Unemployment, edition 127, chapter 0, pages 45-49, Springer.
    • Handle: RePEc:spr:spbchp:978-3-319-03686-1_4
    DOI: 10.1007/978-3-319-03686-1_4
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    Keywords

    Spanish labour market; Policy implications;

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