with the EU15, Spanish labor market institutions and policies stand out by the structure of its collective bargaining … quantitative analysis, the paper shows that moving away from the intermediate level of bargaining would go a long way toward … reducing employment protection of permanent workers. Substantially reforming the collective bargaining system and reducing the …

larger fluctuations in the workers’ bargaining power while the interest rates shocks lead to variations in the firms⠅

necessary. The paper also assesses whether the wage bargaining framework, a key labor market institution, is conducive to …