Unemployment rates and population changes in Spain

Published as an article in: Journal of Applied Economics, 2004, vol. VII, pages 47-76.

An Estimated New-Keynesian Model with Unemployment as Excess Supply of Labor

Wage stickiness is incorporated to a New-Keynesian model with variable capital to drive endogenous unemployment uctuations de ned as the log di¤erence between aggregate labor supply and aggregate labor demand. We estimated such model using Bayesian econometric techniques and quarterly U.S. data. The second-moment statistics of the unemployment rate in the model give a good t to those observed in U.S. data. Our results also show that wage-push shocks, demand shifts and monetary policy shocks are the three major determinants of unemployment fl uctuations. Compared to an estimated New-Keynesian model without unemployment (Smets and Wouters, 2007): wage stickiness is higher, labor supply elasticity is lower, the slope of the New-Keynesian Phillips curve is flatter, and the importance of technology innovations on output variability increases.

Paper unemployment: the irish experience

When asked to give a paper at this conference I choosee "Incentive to encourage youth employment" but very soon into my research I felt that the overall approach to unemployment by succesive Irish Governments offered more valuable insights into this serious problem and the lack of recognition of how serious this problem is. This is particulary so for small economies and regions on the periphery of the EU.

Wage stickiness and unemployment fluctuations: an alternative approach

28 p.

Environmental fiscal reform and unemployment in Spain in the presence of an informal sector

4 p.

Environmental Fiscal Reform and Unemployment in Spain

22 p.

Technological unemployment

This work investigates the relationship between unemployment and technological progress. We analyze briefly the historical context in which the problem of unemployment begins: the emergence of a new economic system, the capitalism. In our research we consider the contributions of two different economists: John Stuart Mill and Karl Marx. They offer two different perspectives to this subject. We also consider the contribution David Ricardo, the first author that realized the conflictive relationship between technical progress and the interest of the workers. We also include an analysis of the problem by using different data collected from Global Wage Report, that is annually offered by the International Labor Organization (ILO). Finally, we also analyze the phenomenon called planned obsolescence. The idea of producing goods with low quality in order to guarantee a future demand (replacing the obsolete goods) has been considered a good option to avoid unemployment. This work ends with some final comments and open questions.

Youth unemployment in th Spanish labour market.

Presentation and analysis of the situation of Spanish youth entering the labour market. Current situation, targets, challenges, econometric analysis, proposals

Endogenous Unions Formation

This paper analyzes the process of endogenous union formation in the context of a sequential bargaining model between a firm and several unions and tries to explain why workers may be represented by several unions of different sizes. We show that the equilibrium number of unions and their relative size depend on workers' attitudes toward the risk of unemployment and union configuration is independent of labor productivity.

Immigrants Responsiveness to Labor Market Conditions

Using data from the Spanish Labor Force Survey (Encuesta de Población Activa) from 1999 through 2004, we explore the role of regional employment opportunities in explaining the increasing immigrant flows of recent years despite the limited internal mobility on the part of natives. Subsequently, we investigate the policy question of whether immigration has helped reduced unemployment rate disparities across Spanish regions by attracting immigrant flows to regions offering better employment opportunities. Our results indicate that immigrants choose to reside in regions with larger employment rates and where their probability of finding a job is higher. In particular, and despite some differences depending on their origin, immigrants appear generally more responsive than their native counterparts to a higher likelihood of informal, self, or indefinite employment. More importantly, insofar the vast majority of immigrants locate in regions characterized by higher employment rates, immigration contributes to greasing the wheels of the Spanish labor market by narrowing regional unemployment rate disparities.

Optimal Fiscal Policy with Rationing in the Labor Market

Published as an article in: Topics in Macroeconomics, 2005, vol. 5, issue 1, article 17.

Costes potenciales ante el déficit de señalización en la Licenciatura de Ciencias Económicas para la Empresa

[ES] El desempleo existente entre los recién licenciados en España ha alcanzado un nivel récord comparado con el resto de los países en la Unión Europea. A su vez no hay ningún país en la Unión Europea que cuente con tantos estudiantes y licenciados como España. Este artículo no muestra los altos costes para los recién licenciados y el estado en general, sino se centra en los potenciales costes para las empresas en este país que conllevan estas circunstancias. Como base teórica este artículo aplicará los resultados de la Teoría de la agencia para hacer ver que las titulaciones tanto universitarias como no universitarias pueden sufrir una deflación permanente del valor. Con ayuda del ejemplo de la situación de los recién licenciados en Ingeniería y Empresariales en España frente a Alemania este artículo muestra como la deficiente señalización de las titulaciones puede provocar los ya mencionados costes.

Innovación y crecimiento económico: Factores que estimulan la innovación

[ES] El objetivo de este artículo es analizar el papel que desempeñan las innovaciones en la actividad económica. En este sentido, se muestra la relación que existe entre innovaciones y crecimiento económico, como objetivo esencial actual de la política económica para reducir el desempleo y aumentar el bienestar social.

Time Variation in an Optimal Asymmetric Preference Monetary Policy Model

This paper considers a time varying parameter extension of the Ruge-Murcia (2003, 2004) model to explore whether some of the variation in parameter estimates seen in the literature could arise from this source. A time varying value for the unemployment volatility parameter can be motivated through several means including variation in the slope of the Phillips curve or variation in the preferences of the monetary authority.We show that allowing time variation for the coefficient on the unemployment volatility parameter improves the model fit and it helps to provide an explanation of inflation bias based on asymmetric central banker preferences, which is consistent across subsamples.