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	Podcast:		Economics, Finance and Accounting and Control
	Episode:		(High) Comparing German and Spanish Labor Markets
	Category:		Business
	Duration:
	Publish Date:		2012-01-16 18:00:00
	Description:		Spain's new Prime Minister Mariano Rajoy has been doggedly focused on austerity measures and reducing the public deficit, but is this wise? With staggering unemployment and fears of recession, other problems may be more worrisome. In this video, IESE Assistant Professor Morten Olsen points out that over the 2000s productivity in Spain markedly underperformed against the German benchmark. Compensation and unit labor costs rose at a much faster rate in Spain, though in absolute terms German salaries tend to be much higher.
	Total Play:		0