We use a unique dataset to estimate the impact of a large credit supply shock on employment in Spain. We exploit marked differences in banks' health at the onset of the Great Recession. Several weak banks were rescued by the State and they reduced credit more than other banks. We compare...

We use a unique dataset to estimate the impact of a large credit supply shock on employment in Spain. We exploit marked differences in banks’ health at the onset of the Great Recession. Several weak banks were rescued by the State and they reduced credit more than other banks. We compare...

We use a unique dataset to estimate the impact of a large credit supply shock on employment in Spain. We exploit marked differences in banks' health at the onset of the Great Recession. Several weak banks were rescued by the State and they reduced credit more than other banks. We compare...

We use a unique dataset to estimate the impact of a large credit supply shock on employment in Spain. We exploit marked differences in banks’ health at the onset of the Great Recession. Several weak banks were rescued by the State and they reduced credit more than other banks. We compare...

We use a unique dataset to estimate the impact of a large credit supply shock on employment in Spain. We exploit marked differences in banks' health at the onset of the Great Recession. Several weak banks were rescued by the State and they reduced credit more than other banks. We compare...

Our new paper takes the same model to European data. First, we apply the methodology of Shimer ("Reassessing the Ins and Outs of Unemployment", mimeo, 2005) to calculate time series for hiring and separation probabilities in a set of European countries that have data on short-term and long-term...

This paper analyzes the role that global value chains (GVC) have played during the sovereign debt crisis in Europe, and the key policy challenges that Spain faces. First, we provide a comparative analysis of the export performance and FDI activities of Spanish firms, using the firm-level...

Youth unemployment has been on the rise since the beginning of the crisis in 2008. Even more troublesome is the dramatic rise in the number of youth not in employment, education or training, which has led to widespread concerns about the impact on social cohesion and fears of a “lost...

La reforma laboral de 2012 acaba de cumplir tres años en febrero. Desde muchos ámbitos se han hecho afirmaciones sobre los efectos de la misma. Según las apreciaciones más optimistas, la reforma explica por qué el mercado laboral español fue capaz de crear más de 400.000 empleos en 2014...

This paper provides both descriptive and empirical evidence about the main youth labour market problems in Spain. Using the experiences of other EU economies as a benchmark, we document the performance of Spain as regards a wide set of youth labour market dimensions. These include employment and...