Abstract
This chapter delves deeper into the likely sources of Spanish unemployment by making use of a broad collection of institutional and macroeconomic variables which, the economic literature suggests, can exert an influence on unemployment. Specifically, we focus on studying whether each variable individually considered Granger-causes the common factor of the unemployment rate and find that there is a wide range of macroeconomic and institutional variables that might be useful for anticipating a change in the unemployment rate. By determining the factors responsible for the common hysteretic patterns in Spanish unemployment, we will be in a position to suggest policies that can help tackle this problem.
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