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Drivers of Spain's Export Performance and the Role of the Labor Market Reforms.

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Spain’s structural reforms, implemented around 2012, have arguably contributed to a faster and stronger economic recovery. In particular, there is strong evidence that the 2012 labor market reforms increased wage flexibility, which helped the Spanish economy to regain competitiveness and create jobs. But the impact of these labor reforms on income inequality and social inclusion has not been analyzed much. This paper aims to shed light on this issue by employing an econometric decomposition procedure combined with the synthetic control method. The results indicate that the 2012 labor reforms have helped improve employment and income equality outcomes with no substantial impact on the overall risk of poverty. Nevertheless, the reforms appear to have induced a deterioration of average hours worked, in-work poverty, and possibly also of involuntary part-time employment.

Spain --- Labor --- Macroeconomics --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Aggregate Factor Income Distribution --- Labor Economics Policies --- Economic Development: Human Resources --- Human Development --- Income Distribution --- Migration --- Labor Economics: General --- Labour --- income economics --- Labor market reforms --- Income inequality --- Income distribution --- National accounts --- Manpower policy --- Economic theory --- Labor economics --- Income economics

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Many European economies have faced pressure from rental housing affordability that has widened social and economic divergence. While significant country and regional differences exist, this departmental paper finds that in many advanced European economies a large and rising share of low-income renters, the young, and those living in cities is overburdened. In several locations, middle-income groups also increasingly face rental affordability issues.

Rental housing --- Housing --- Low-income housing --- Low-income tenants --- Income distribution --- Prices --- Aggregate Factor Income Distribution --- Disposable income --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Economics --- Economics: General --- Equity, Justice, Inequality, and Other Normative Criteria and Measurement --- Housing prices --- Housing Supply and Markets --- Income inequality --- Income --- Infrastructure --- International Agreements and Observance --- International Economics --- International institutions --- International Organizations --- Macroeconomics --- National accounts --- National income --- Personal Income, Wealth, and Their Distributions --- Political Economy --- Political economy --- Poverty --- Property & real estate --- Real Estate --- Saving and investment --- United Kingdom