Graduation Year

2019

Date of Submission

12-2018

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Manfred Keil

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Abstract

The thesis investigates the behavior of Spain’s persistently high unemployment rate. Rigid labor laws, unemployment insurance generosity, and the demographics of the unemployed are part of the cause, but they are only underlying factors driving the hysteresis that has been present for nearly four decades. The thesis attempts to extract explanations for this persistence by comparing Spain to other countries, such as its next-door neighbor, Portugal. Special attention is placed on the role that recessions and subsequent changes in real GDP growth play in sustaining a high rate of unemployment.

This thesis is restricted to the Claremont Colleges current faculty, students, and staff.

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