Please use this identifier to cite or link to this item: http://hdl.handle.net/2445/112128
Title: Countercyclical Labor Productivity: The Spanish Anomaly
Author: Jalón, Borja
Sosvilla Rivero, Simón, 1961-
Herce, José A.
Keywords: Cicles econòmics
Productivitat laboral
Dret del treball
Business cicles
Labor productivity
Labor laws and legislation
Issue Date: 2017
Publisher: Universitat de Barcelona. Institut de Recerca en Economia Aplicada Regional i Pública
Abstract: The cyclical pattern of labor productivity has been a subject of discussion in the economic literature for long time with important theoretical implications. Many authors point out the role of labor market institutions as determinants of the cyclical pattern. For these authors, the loss of procyclicality experimented in the United States since the mid-1980s could be explained by decrease of rigidities in labor market. Following the literature, this paper explores the role of labor regulation by analyzing the case of Spain, which has gone in a few years from a strongly procyclical pattern to a counterciclycal one. Our results suggest that the high rigidity in wages and the great flexibility in labor, related to the temporary workers after the 1984 legislative reform, is the main cause of the countercyclical pattern of the Spanish labor productivity. Our findings are in line with previous papers highlighting the crucial influence of labor market institutions over the cyclical pattern.
Note: Reproducció del document publicat a: http://www.ub.edu/irea/working_papers/2017/201712.pdf
It is part of: IREA – Working Papers, 2017, IR17/12
URI: http://hdl.handle.net/2445/112128
ISSN: 2014-1254
Appears in Collections:Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))

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