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The economic and financial crisis has hit Spain harder than practically any other country in Europe. Even if there are … occasional reports that the Spanish economy is improving slightly, the unemployment rate remains at 25 per cent and is as high as … 54 per cent among Spain's young people. The data presented in this article, which were obtained via a representative …
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This article documents a strong connection between unemployment and mental disorders using data from the Spanish National Health Survey. We exploit the collapse of the construction sector to identify the causal effect of job loss. Our results suggest that an increase of the unemployment rate by...
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This paper studies the importance of firm-level price markup dynamics for business cycle fluctuations. Using state-of-the-art IO techniques to measure the behavior of markups over the business cycle at the firm level, I find that markups are countercyclical with an average elasticity of -1.1...
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In recent weeks, fears of a worldwide economic recession have become widespread because more and more symptoms appear that resemble those at the start of the great depression of 1929. However, wrong conclusions may be drawn from similar symptoms unless basic development trends as well as the...
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