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Full-Text Articles in Social and Behavioral Sciences
Wage Effects Of Non-Wage Labour Costs, María Cervini, José Ignacio Silva, Xavier Ramos
Wage Effects Of Non-Wage Labour Costs, María Cervini, José Ignacio Silva, Xavier Ramos
José Ignacio Silva
We study wage effects of two important elements of non-wage labour costs: firing costs and payroll taxes. We exploit a reform that introduced substantial reduction in these two provisions for unemployed workers aged less than thirty and over forty five years who got a permanent job. A matching model with heterogeneous workers predicts positive wage effects of reducing firing costs but ambiguous wage effects of reducing payroll taxes, for both new entrant and incumbent workers. Difference-in-differences estimates and simulation of the model show positive wage effects for both new entrant and incumbent workers. The reduction in firing costs accounts for …
The Spanish Export Led Recovery, David Wagner
The Spanish Export Led Recovery, David Wagner
Undergraduate Economic Review
I researched the export-led recovery currently taking place in Spain. My thesis revolved around Mariano Rajoy and the Popular Party coming into power in 2011 and instituting reforms in three distinct categories; financial market reforms, fiscal measures, and labor market reforms. These reforms have had a significant impact in restoring credibility in Spain's capital markets and decreasing unit labor costs. In turn, Spain has shown impressive export growth in the past two years, especially compared to its neighbors Italy and France.
No Light At The End Of The Tunnel: Ideological And Systematic Causes Of Spain's Economic Paralysis, Taylor S. Shippen
No Light At The End Of The Tunnel: Ideological And Systematic Causes Of Spain's Economic Paralysis, Taylor S. Shippen
Claremont-UC Undergraduate Research Conference on the European Union
Since 2008, Spain’s economy has suffered from an unemployment crisis. In response, voters elevated the Partido Popular (PP) to power in 2011 after becoming frustrated with the Partido Socialista Obrero Español’s (PSOE) lack of effective action. However, since the election of 2011, very little has changed in Spain’s stagnant economy. Unemployment remains high despite initially promising reforms in Spain’s labor market and a bailout for Spain’s larger banks in 2012 has done little to bring foreign investment back into the country. In this paper, I contend that the PP’s timid response to the unemployment crisis is the result of a …