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The Spanish Cyclicality Of The User Cost Of Labour

Author

Listed:
  • Antonio Cutanda

    (Universidad de Valencia.)

  • Juan A. Sanchis Llopis

    (Universidad de Valencia and ERICES.)

Abstract

In this paper we contribute to the study of the Spanish unemployment puzzle. We introduce the user cost of labour in the analysis (instead of wages) as this might be the relevant price for firms considering to hire a new worker. We construct a pseudo-panel by combining two Spanish microeconomic surveys (the labour and the family expenditure surveys), and estimate that the user cost is more procyclical than average wages.

Suggested Citation

  • Antonio Cutanda & Juan A. Sanchis Llopis, 2019. "The Spanish Cyclicality Of The User Cost Of Labour," Working Papers 1914, Department of Applied Economics II, Universidad de Valencia.
    • Handle: RePEc:eec:wpaper:1914
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    More about this item

    Keywords

    Cyclicality; user cost of labour; pseudo-panel data;

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C36 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Instrumental Variables (IV) Estimation
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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