Growth pattern, labor rigidities and Unemployment in Spain
Keywords:
Pattern of growth, productive system, rigidities in labour market and unemployment.Abstract
The article notes two possible causative factors of unemployment: an inadequatemacroeconomic dynamics (or pattern of growth) and rigidities of the labour market.From this, taking as a reference the experience of a group of European countries with the best results in terms of economic prosperity, financial stability and social cohesion, the article analyses the macroeconomic dynamics of the Spanish economy since the end of the 1990s, noting its fundamental features: imbalance, its inflationary nature, the concentration of the production system in low-productivity and labour intensive activities. Then, the article describes the major misalignments of the Spanish labour market. Finally, the article describes the concept of flexicurity andoffers suggestions for economic policy to combat unemployment.References
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