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

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 …