Efectos dinámicos de perturbaciones de demanda y oferta en la economía española
- Fernández Casillas, Esther
- Manzano, Baltasar
- Fernández Serrano, José Luis
- Ruiz Andújar, Jesús
ISSN: 2341-2356
Année de publication: 1994
Número: 18
Pages: 1-32
Type: Working Paper
D'autres publications dans: Documentos de Trabajo (ICAE)
Résumé
This paper examines the importance of domestic demand and supply shocks in explaining economic fluctuations in Spain using a vector autorregresive system involving real GDP growth and the unemployrnent rateo Qur results indicate that domestic demand shocks have only transitory effects on both variables, while domestic supply shocks have permanent effects on the GDP. In addition, we find that demand shocks explain a significant portian of the business cycle fluctuations. Finally, the results seem suggest the presence of strong labor market rigidities.