4.4 Article

Empirical analysis of the relationship between labour cost stickiness and labour reforms in Spain

Journal

ACCOUNTING AND FINANCE
Volume 63, Issue -, Pages 1187-1221

Publisher

WILEY
DOI: 10.1111/acfi.12991

Keywords

cost stickiness; employment protection legislation; labour cost stickiness; labour reform

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This study empirically analyzes the relationship between labor cost stickiness and the decrease in employment protection in the Spanish labor reforms. The results show that labor costs became less sticky after the reforms.
This study performs an empirical analysis on the relationship between labour cost stickiness and the decrease in employment protection in the Spanish labour reforms in 2010 and 2012. Following these reforms, the sticky behaviour of labour costs substantially decreased with respect to the pre-reform period. All constituents of total labour costs followed a similar pattern: wages, social security contributions and number of employees. Results are robust to different models, estimation methods, periods of time, and industries, as well as with respect to endogeneity concerns.

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