Long-term unemployment reached unprecedented levels in Spain in the wake of the Great Recession and it still affects …

We use a unique dataset to estimate the impact of a large credit supply shock on employment in Spain. We exploit marked …

This paper analyzes the strikingly different response of unemployment to the Great Recession in France and Spain. Their … France, unemployment rate has increased by 2 percentage points, whereas in Spain it has shot up to 19% by the end of 2009. We … contracts and the less restrictive rules regarding the use of the latter contracts in Spain. Using a calibrated search and …

The Phillips curve has flattened in Spain over 1995-2006: unemployment has fallen by 15 percentage points, with roughly … Spain over this period. We show that the New Keynesian Phillips curve is shifted by immigration if natives' and immigrants …' labor supply or bargaining power differ. Estimation of the curve for Spain indicates that the fall in unemployment since …