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Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures and their likely Impact. A demographic shift in recent years has produced a large rise in female labor force participation and a decrease in agricultural jobs to which the economy has been unable to adjust. The effects of generous unemployment benefits and the large underground economy may explain 6–12 percentage points of the resulting unemployment, but the remainder must be explained by failures and rigidities in the labor market. The paper presents econometric evidence that unemployment displays hysteresis, and that wages are not responsive to changes in the unemployment rate. This evidence supports the claim that insider-outsider factors and rigidities in the legal structure of the labor market are responsible for much of the high unemployment rate. Recent reforms have improved the functioning of the labor market, but they are unlikely to be sufficient to reduce unemployment to single digit rates without further action.
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The first comparative study of the politics of policy innovation in the field of unemployment. The contributors provide a thorough and lucid analysis of past government failures, and look to possible future strategies.
Critically assessing the widely accepted view that the cause of unemployment is excessive labor market regulation and overly generous welfare state benefits, this book's chapters include both cross-country statistical analyses and country case studies.
In this new edition of his critically acclaimed book, Jon Elster examines the nature of social behavior, proposing choice as the central concept of the social sciences. Extensively revised throughout, the book offers an overview of key explanatory mechanisms, drawing on many case studies and experiments to explore the nature of explanation in the social sciences; an analysis of the mental states - beliefs, desires, and emotions - that are precursors to action; a systematic comparison of rational-choice models of behavior with alternative accounts, and a review of mechanisms of social interaction ranging from strategic behavior to collective decision making. A wholly new chapter includes an exploration of classical moralists and Proust in charting mental mechanisms operating 'behind the back' of the agent, and a new conclusion points to the pitfalls and fallacies in current ways of doing social science, proposing guidelines for more modest and more robust procedures.
In recent years, unemployment rates in some ECCU countries have been among the highest globally. This paper evaluates several factors that could explain them, finding that high unit labor costs, in a context of strong unionization, are significantly associated with high structural unemployment, while the global crisis added a cyclical component. Our analysis also suggests that high-paid jobs in the public and tourism sectors, which have been growing considerably in recent decades, could have increased the reservation wage and lowered labor force participation. We find no indication that high structural unemployment is related to the phase out of EU preferences on bananas/sugar exports or to a skills mismatch. As expected, unemployment has been substantially, but only temporarily fueled by large natural disasters.
This work investigates the time series properties of the unemployment rate of the Spanish regions over the period 1976-2011. For that purpose, the authors employ the PANIC procedures of Bai and Ng (2004), which allows to decompose the observed unemployment rate series into common factor and idiosyncratic components. This enables the authors to identify the exact source behind the hysteretic behaviour found in Spanish regional unemployment. Overall, the analysis with three different proxies for the excess of labour supply renders strong support for the hysteresis hypothesis, which appears to be caused by a common stochastic trend driving all the regional unemployment series. In the second part of the analysis the authors try to determine the macroeconomic and institutional factors that are able to explain the time series evolution of the common factor, and in turn help us shed light on the ultimate sources of hysteresis. The reader shall see how the variables that the empirical analysis emphasises as relevant closely fit into the main causes of the Spanish unemployment behaviour. Finally, some policy considerations drawn from the results are presented.