Can the Matching Model Account for Spanish Unemployment ?
This paper aims at explaining the dynamics of labor markets in Spain, especially the high persistence of unemployment and the Beveridge curve. We build a stochastic dynamic general equilibrium matching model, which assumes failures in the matching between vacancies and unemployed. We calibrate the model for the Spanish economy and simulate it considering two sources of exogenous shocks: a technological one and a reallocation one. The model is able to mimic the main stylized facts for the Spanish labor market. Moreover, we show that reallocation shocks are the main source that drive the labor market dynamics. We also analyze the dynamics of the Beveridge curve for Spain.
|Date of creation:||01 Jan 1999|
|Date of revision:|
|Contact details of provider:|| Postal: |
Fax: +32 10473945
Web page: http://www.uclouvain.be/ires
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Merz, Monika, 1995. "Search in the labor market and the real business cycle," Journal of Monetary Economics, Elsevier, vol. 36(2), pages 269-300, November.
- Juan J. Dolado & Juan F. Jimeno, .
"The causes of Spanish unemployment: A structural VAR apporach,"
- Dolado, Juan J. & Jimeno, Juan F., 1997. "The causes of Spanish unemployment: A structural VAR approach," European Economic Review, Elsevier, vol. 41(7), pages 1281-1307, July.
- Burnside, Craig & Eichenbaum, Martin & Rebelo, Sergio, 1993.
"Labor Hoarding and the Business Cycle,"
Journal of Political Economy,
University of Chicago Press, vol. 101(2), pages 245-73, April.
- Hansen, Gary D., 1985.
"Indivisible labor and the business cycle,"
Journal of Monetary Economics,
Elsevier, vol. 16(3), pages 309-327, November.
- Pablo Antolin, 1995. "Job search behaviour and unempoyment benefits in Spain during the period 1987-1991," Investigaciones Economicas, Fundación SEPI, vol. 19(3), pages 415-433, September.
- Samuel Bentolila, . "Internal migration in Spain," Working Papers 2001-07, FEDEA.
- Roger E. A. Farmer, 1999. "Macroeconomics of Self-fulfilling Prophecies, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262062038, June.
- Luis A. Puch & Omar Licandro, 1997.
"Are there any special features in the Spanish business cycle?,"
Fundación SEPI, vol. 21(2), pages 361-394, May.
- Luis Puch & Omar Licandro, . "Are there any special features in the Spanish business cycles?," Working Papers 97-06, FEDEA.
- François LANGOT & Muriel PUCCI, 1996. "Participation, unemployment and wage bargaining in a real business cycle model," Discussion Papers (REL - Recherches Economiques de Louvain) 1996034, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Harald Uhlig, 1998.
"A Toolkit for Analysing Nonlinear Dynamic Stochastic Models Easily,"
123, Quantitative Macroeconomics & Real Business Cycles.
- Harald Uhlig, 1995. "A toolkit for analyzing nonlinear dynamic stochastic models easily," Discussion Paper / Institute for Empirical Macroeconomics 101, Federal Reserve Bank of Minneapolis.
- Chéron, A. & Langot, François, 1999.
"The Phillips and Beveridge curves revisited,"
CEPREMAP Working Papers (Couverture Orange)
- Oliver Jean Blanchard & Peter Diamond, 1989. "The Beveridge Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1), pages 1-76.
- Mortensen, Dale T & Pissarides, Christopher A, 1994.
"Job Creation and Job Destruction in the Theory of Unemployment,"
Review of Economic Studies,
Wiley Blackwell, vol. 61(3), pages 397-415, July.
- Dale T. Mortensen & Christopher A. Pissarides, 1993. "Job Creation and Job Destruction in the Theory of Unemployment," CEP Discussion Papers dp0110, Centre for Economic Performance, LSE.
- Andolfatto, David, 1996. "Business Cycles and Labor-Market Search," American Economic Review, American Economic Association, vol. 86(1), pages 112-32, March.
- Marimon, Ramon & Zilibotti, Fabrizio, 1998.
"'Actual' versus 'virtual' employment in Europe Is Spain different?,"
European Economic Review,
Elsevier, vol. 42(1), pages 123-153, January.
- Marimon, Ramon & Zilibotti, Fabrizio, 1996. "'Actual' versus 'Virtual' Employment in Europe: Is Spain Different?," CEPR Discussion Papers 1427, C.E.P.R. Discussion Papers.
- Jacques, J.F. & Langot, F., 1992. "Persistance du chomage et marche du travail, la dynamique de la courbe de beveridge," Papiers d'Economie MathÃ©matique et Applications 92.34, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1).
- Hosios, Arthur J, 1990. "On the Efficiency of Matching and Related Models of Search and Unemployment," Review of Economic Studies, Wiley Blackwell, vol. 57(2), pages 279-98, April.
- Robert J. Hodrick & Edward Prescott, 1981.
"Post-War U.S. Business Cycles: An Empirical Investigation,"
451, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- 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.
- Kydland, Finn E & Prescott, Edward C, 1982.
"Time to Build and Aggregate Fluctuations,"
Econometric Society, vol. 50(6), pages 1345-70, November.
- Finn E. Kydland & Edward C. Prescott, 1982. "Executable program for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4, Quantitative Macroeconomics & Real Business Cycles.
- Finn E. Kydland & Edward C. Prescott, 1982. "Web interface for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4a, Quantitative Macroeconomics & Real Business Cycles.
- Una-Louise Bell, 1997. "A Comparative Analysis of the Aggregate Matching Process in France, Great Britain and Spain," Banco de Espa�a Working Papers 9721, Banco de Espa�a.
- Juan José Dolado & Ramón Gómez, 1997. "La relación entre desempleo y vacantes en España: perturbaciones agregadas y de reasignación," Investigaciones Economicas, Fundación SEPI, vol. 21(3), pages 441-472, September.
- Merz, Monika, 1999. "Heterogeneous job-matches and the cyclical behavior of labor turnover," Journal of Monetary Economics, Elsevier, vol. 43(1), pages 91-124, February.
- Danthine, Jean-Pierre & Donaldson, John B., 1990. "Efficiency wages and the business cycle puzzle," European Economic Review, Elsevier, vol. 34(7), pages 1275-1301, November.
When requesting a correction, please mention this item's handle: RePEc:ctl:louvir:1999012. 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: (Anne DAVISTER-LOGIST)
If references are entirely missing, you can add them using this form.