The Spanish Hangover

Daniel Gros and Cinzia Alcidi ()

CEPS Papers from Centre for European Policy Studies

Abstract: Spain faces high unemployment and slow growth. This paper focuses on an important source of those problems, namely its housing market. While some adjustment has occurred since Spain's housing bubble burst in 2008, the authors find that house prices and construction need to decrease more to slow Spain's unsustainable accumulation of foreign debt.

Pages: 5 pages
Date: 2012-04
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:eps:cepswp:6836

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