Selected Issues Papers

Labor Productivity Dynamics in Spain: A Firm-Level Perspective: Spain

Author/Editor:

Nicolas Arregui ; Yu Shi

Publication Date:

February 28, 2023

Electronic Access:

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Summary:

This paper uses firm-level data that covers over 1.2 million Spanish firms during the period of 2003-2019 to provide an updated assessment of the drivers of labor productivity in the Spanish economy, focusing on both TFP and firm investment. The empirical analysis shows significant differences in production constraints in both the capital market and the labor market, across firm size and age. This paper also includes a review of Spain’s ambitious reform commitments under the Recovery, Transformation and Resilience Plan and concludes with recommendations for further action.

Series:

Selected Issues Paper No. 2023/012

Subject:

International organization Labor Labor markets Labor productivity Monetary policy Production Productivity Total factor productivity

Frequency:

Regular