A relación entre desemprego e productividade en España e Portugalpersistencia e longo prazo
ISSN: 1132-2799
Year of publication: 1999
Volume: 8
Issue: 1
Pages: 5-18
Type: Article
More publications in: Revista galega de economía: Publicación Interdisciplinar da Facultade de Ciencias Económicas e Empresariais
Abstract
Unemployment represenls one of the main problems m European economías; among them Spain. Nevertheless; our neighbour Portugal; in spile of being subject to similar disturbances in the labour market (and in its economy in general) shows an unemployment rate much lower than Spaln. In this paper the existence of a long term relationship between unemployment and productivity rate. lf such relatlonship exists the greater persistence of unemployment in Spain as compared to the Portuguesa situalion can be explained. Evidence suggests that this relationship is significant for both countries and that Spain; besides showing a higher persistence coefficlent than Portugal; suffers slower adjustments when both variables are outside of their equilibrium positions