La elasticidad de la oferta de trabajo en la economía española
Abstract
In this paper we analyze the elasticity of the supply of labor factor against the real wage, for the case of the Spanish economy in the period 2002 – 2019. The evidence obtained is contrary to one of the basic hypotheses of the Real Business Cycle models, this it is the high elasticity of the labor supply to the real wage, which allows transient technological shocks to be converted into cyclical movements in employment and, therefore, in production. The VAR(p) models that we have formulated reveal a minimal or not significant elasticity.Keywords: real business cycle, labor – wage elasticity
Published
2022-10-30
Section
Articles
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