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

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 …

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