Series-Journal of the Spanish Economic Association最新文献

Revisiting the public-private wage gap in Spain: new evidence and interpretation. 重新审视西班牙的公私工资差距：新的证据和解释。

IF 1.3 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2023-04-25 DOI: 10.1007/s13209-023-00277-z

Alba Couceiro de León, Juan J Dolado

引用次数: 0

Schumpeter meets Goldilocks: the scarring effects of firm destruction. 熊彼特与金发姑娘相遇：企业毁灭的创伤效应。

IF 1.3 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2023-03-08 DOI: 10.1007/s13209-023-00273-3

Beatriz González, Enrique Moral-Benito, Isabel Soler

{"title":"Schumpeter meets Goldilocks: the scarring effects of firm destruction.","authors":"Beatriz González, Enrique Moral-Benito, Isabel Soler","doi":"10.1007/s13209-023-00273-3","DOIUrl":"10.1007/s13209-023-00273-3","url":null,"abstract":"This paper uncovers an inverted U-shaped relationship between firm exit and total factor productivity (TFP) growth using Spanish data. At low levels of firm exit, Schumpeterian cleansing effects dominate and the effect of firm destruction on TFP is positive, but when exit rates are very high, this effect turns negative. In order to rationalize this finding, we build on Asturias et al. (Firm entry and exit and aggregate growth, Technical report, National Bureau of Economic Research, 2017) and develop a model of firm dynamics with exit spillovers calibrated to match the nonlinearity found in the data. This reduced-form spillover captures amplification effects from very high destruction rates that might force viable firms to exit, for example, due to disruptions in the production network and a generalized contraction in credit supply. Armed with the calibrated model, we perform counterfactual scenarios depending on the severity of the shock to firm's outcomes. We find that when the shock is mild and firm destruction rates at impact are similar to those observed during the Global Financial Crisis (GFC), TFP growth increases, and the recovery is faster. However, when the shock is severe and firm exit is well above that of the GFC, TFP growth decreases, since high-efficiency firms are forced out of the market, which makes the recovery much slower.","PeriodicalId":54185,"journal":{"name":"Series-Journal of the Spanish Economic Association","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2023-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9994775/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"9692295","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 14

The aggregate effects of government income transfers shocks: EU evidence. 政府收入转移冲击的总体效应:欧盟证据。

IF 1.3 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2023-01-01 DOI: 10.1007/s13209-022-00271-x

Susana Párraga Rodríguez, Banco de España

引用次数: 0

Automation and sectoral reallocation. 自动化和部门再分配。

IF 1.3 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2022-01-01 Epub Date: 2021-07-30 DOI: 10.1007/s13209-021-00240-w

Dennis C Hutschenreiter, Tommaso Santini, Eugenia Vella

引用次数: 1

Macroeconomic and distributive effects of increasing taxes in Spain. 西班牙增税的宏观经济和分配效应。

IF 1.3 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2022-01-01 Epub Date: 2022-11-09 DOI: 10.1007/s13209-022-00269-5

Luisa Fuster

引用次数: 0

Temping fates in Spain: hours and employment in a dual labor market during the Great Recession and COVID-19. 西班牙的临时工命运:大衰退和COVID-19期间双重劳动力市场中的工时和就业。

IF 1.3 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2022-01-01 Epub Date: 2021-12-02 DOI: 10.1007/s13209-021-00257-1

Cristina Lafuente, Raül Santaeulàlia-Llopis, Ludo Visschers

{"title":"Temping fates in Spain: hours and employment in a dual labor market during the Great Recession and COVID-19.","authors":"Cristina Lafuente, Raül Santaeulàlia-Llopis, Ludo Visschers","doi":"10.1007/s13209-021-00257-1","DOIUrl":"https://doi.org/10.1007/s13209-021-00257-1","url":null,"abstract":"We investigate the behavior of aggregate hours supplied by workers in permanent (open-ended) contracts and temporary contracts, distinguishing changes in employment (extensive margin) and hours per worker (intensive margin). We focus on the differences between the Great Recession and the start of the COVID-19 Recession. In the Great Recession, the loss in aggregate hours is largely accounted for by employment losses (hours per worker did not adjust) and initially mainly by workers in temporary contracts. In contrast, in the early stages of the COVID-19 Recession, approximately sixty percent of the drop in aggregate hours is accounted for by permanent workers that do not only adjust hours per worker (beyond average) but also face employment losses-accounting for one-third of the total employment losses in the economy. We argue that our comparison across recessions allows for a more general discussion on the impact of adjustment frictions in the dual labor market and the effects policy, in particular the short-time work policy (ERTE) in Spain.","PeriodicalId":54185,"journal":{"name":"Series-Journal of the Spanish Economic Association","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8637037/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"39698074","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Lost in recessions: youth employment and earnings in Spain. 衰退中迷失:西班牙青年就业和收入。

IF 1.3 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2022-01-01 Epub Date: 2021-11-26 DOI: 10.1007/s13209-021-00244-6

Samuel Bentolila, Florentino Felgueroso, Marcel Jansen, Juan F Jimeno

引用次数: 3

Work and children in Spain: challenges and opportunities for equality between men and women. 西班牙的工作与儿童:男女平等的挑战与机遇。

IF 1.3 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2022-01-01 Epub Date: 2021-10-04 DOI: 10.1007/s13209-021-00243-7

Claudia Hupkau, Jenifer Ruiz-Valenzuela

引用次数: 12

Dynamic factor models: Does the specification matter? 动态因素模型:规范重要吗?

IF 1.3 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2022-01-01 Epub Date: 2021-11-23 DOI: 10.1007/s13209-021-00248-2

Karen Miranda, Pilar Poncela, Esther Ruiz

{"title":"Dynamic factor models: Does the specification matter?","authors":"Karen Miranda, Pilar Poncela, Esther Ruiz","doi":"10.1007/s13209-021-00248-2","DOIUrl":"https://doi.org/10.1007/s13209-021-00248-2","url":null,"abstract":"Dynamic factor models (DFMs), which assume the existence of a small number of unobserved underlying factors common to a large number of variables, are very popular among empirical macroeconomists. Factors can be extracted using either nonparametric principal components or parametric Kalman filter and smoothing procedures, with the former being computationally simpler and robust against misspecification and the latter coping in a natural way with missing and mixed-frequency data, time-varying parameters, nonlinearities and non-stationarity, among many other stylized facts often observed in real systems of economic variables. This paper analyses the empirical consequences on factor estimation, in-sample predictions and out-of-sample forecasting of using alternative estimators of the DFM under various sources of potential misspecification. In particular, we consider factor extraction when assuming different number of factors and different factor dynamics. The factors are extracted from a popular data base of US macroeconomic variables, widely analyzed in the literature without consensus about the most appropriate model specification. We show that this lack of consensus is only marginally crucial when it comes to factor extraction, but it matters when the objective is out-of-sample forecasting.","PeriodicalId":54185,"journal":{"name":"Series-Journal of the Spanish Economic Association","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8610001/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"39941091","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Inequality and psychological well-being in times of COVID-19: evidence from Spain. COVID-19 时代的不平等与心理健康：来自西班牙的证据。

IF 1.7 4区经济学

Series-Journal of the Spanish Economic Association Pub Date : 2021-01-01 Epub Date: 2021-11-09 DOI: 10.1007/s13209-021-00255-3

Monica Martinez-Bravo, Carlos Sanz

{"title":"Inequality and psychological well-being in times of COVID-19: evidence from Spain.","authors":"Monica Martinez-Bravo, Carlos Sanz","doi":"10.1007/s13209-021-00255-3","DOIUrl":"10.1007/s13209-021-00255-3","url":null,"abstract":"Using two novel online surveys collected in May and November 2020, we study the consequences of the COVID-19 pandemic on Spanish households. We document a large and negative effect on household income. By May 2020, the average individual lived in a household that had lost 16% of their pre-pandemic monthly income. Furthermore, this drop was highly unequal: while households in the richest quintile lost 6.8% of their income, those in the poorest quintile lost 27%. We also document that the pandemic deepened the gender-income gap: on average, women experienced a three-percentage point larger income loss than men. While this is consistent with previous findings in the literature, in this paper we document that this effect is driven by women from middle-income households with kids. Finally, we provide evidence that Spanish individuals experienced moderate declines in their levels of psychological well-being. This effect is not different for individuals living in rich or poor households, but the reasons behind well-being losses do differ: richer individuals are more concerned about loss of contact with dear ones, while low-income individuals are more likely to mention loss of income and employment as a key source of emotional distress.","PeriodicalId":54185,"journal":{"name":"Series-Journal of the Spanish Economic Association","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8576792/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"39623728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0