Spain: Selected Issues

June 22, 1998

Preview Citation

Format: Chicago

Spain: Selected Issues, (USA: International Monetary Fund, 1998) accessed September 18, 2024

Summary

This Selected Issues paper analyzes the sources of the persistence of geographical unemployment imbalances and low speed of adjustment to regional labor demand shocks in Spain. The paper argues that, under present labor market arrangements, these imbalances are unlikely to be corrected in the near future. In particular, the current wage bargaining system appears to be excessively centralized and to result in nationally set wages that are too high to reduce unemployment in high-unemployment areas. The paper also analyzes the May 1997 labor market reform.

Subject: Inflation, Labor, Labor markets, Prices, Unemployment, Unemployment rate, Wages

Keywords: Cost, CR, Dismissal cost, Europe, Inflation, Inflation expectation, ISCR, Labor market reform, Labor markets, Output-inflation relationship, Output-inflation tradeoff, Spain, Temporary employment, Unemployment, Unemployment rate, Wage, Wage adjustment, Wage flexibility, Wage growth, Wage pressure, Wages

Publication Details

Pages:

122
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1998/053
Stock No:

1ESPEA0011998
ISBN:

9781451812015
ISSN:

1934-7685

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