More alike than different: the Spanish and Irish labour markets before and after the crisis
Author
Agnese, Pablo
Salvador, Pablo F.
Publication date
2012ISSN
2193-9012
Abstract
Spain and Ireland might seem at first to feature very different labour markets, which go from very tight to very flexible labour conditions. Our analysis, however, goes beyond this simplistic argument and brings to light some important similarities. For this purpose, we estimate a dynamic multi-equation structural model for each country and offer two sets of dynamic simulations that account for the swings of the unemployment rates before and after the 2007 crisis. Our results suggest looking beyond the degree of flexibility in both labour markets and focusing instead on other variables usually neglected by more conventional approaches. In particular, such variables as the growth of capital stock, the growth of labour productivity, and demographics, succeed in explaining a great part of the changes in unemployment in both countries.
Document Type
Article
Document version
Published version
Language
English
Subject (CDU)
33 - Economics. Economic science
Keywords
Economia
Economía
Economy
Pages
24
Publisher
Springer Nature
Collection
1
Is part of
IZA Journal of European Labor Studies
Citation
Agnese, Pablo; Salvador, Pablo F. More alike than different: the Spanish and Irish labour markets before and after the crisis. IZA Journal of European Labor Studies, 2012, 1, 9. Disponible en: <https://izajoels.springeropen.com/articles/10.1186/2193-9012-1-9>. Fecha de acceso: 26 feb. 2024. DOI: 10.1186/2193-9012-1-9
This item appears in the following Collection(s)
Rights
This article is distributed under the terms of the Creative Commons Attribution 2.0 International License (https://creativecommons.org/licenses/by/2.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Except where otherwise noted, this item's license is described as https://creativecommons.org/licenses/by/2.0