Labor Productivity Dynamics in Spain: A Firm-Level Perspective: Spain

Author: Mr. Nicolas Arregui and Ms. Yu Shi

Volume/Issue: Volume 2023 Issue 012

Publication date: February 2023

ISBN: 9798400235634

$15.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Economics- Macroeconomics , Money and Monetary Policy , International - Economics , Productivity , financial constraint , firm size , competition , labor regulation , labor productivity dynamics , I , data coverage , firm-level data , support measure , optimization problem , Labor productivity , Total factor productivity , Labor markets , Europe , Global

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Summary

This paper uses firm-level data that covers over 1.2 million Spanish firms during the period of 2003-2019 to provide an updated assessment of the drivers of labor productivity in the Spanish economy, focusing on both TFP and firm investment. The empirical analysis shows significant differences in production constraints in both the capital market and the labor market, across firm size and age. This paper also includes a review of Spain’s ambitious reform commitments under the Recovery, Transformation and Resilience Plan and concludes with recommendations for further action.