Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266475 
Year of Publication: 
2022
Series/Report no.: 
GLO Discussion Paper No. 1205
Publisher: 
Global Labor Organization (GLO), Essen
Abstract: 
Official statistics indicated a break in Okun's law in all the Spanish regions due to the COVID-19 pandemic; however, herein, evidence of the validity of the law is shown. The temporary layoff procedures (ERTE) allowed many workers to maintain their jobs. From the productive point of view, the law remained in effect in the regions, showing a strong relationship between idle labour resources and economic activity, and from the social point of view, the apparent breakdown of the law can be interpreted as the implementation of a policy that mitigated the dramatic impact of the economic crisis.
Subjects: 
Okun's law
ERTE
expanded unemployment rate
JEL: 
E23
E24
J64
R23
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.