Housing investment in Spain: has it been the main engine of growth?

Carolina Cosculluela-Martínez and Rafael Flores de Frutos ()
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Rafael Flores de Frutos: Departamento de Fundamentos de Análisis Económico II, Universidad Complutense de Madrid. Campus de Somosaguas, 28223, Ma-drid, Spain

Documentos de Trabajo del ICAE from Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico

Abstract: This paper studies dynamic responses of employment and GDP growth to a permanent, uni-tary shock in the housing capital stock for the Spanish economy. It quantifies the importance of this variable in the boom experienced by the Spanish economy during the pre-crisis years. Results confirm that building industry has been the most important engine for output and labour growth.

Keywords: Housing capital stock; Spanish economy; Building industry; Labour growth. (search for similar items in EconPapers)
Pages: pages 20
Date: 2010
New Economics Papers: this item is included in nep-eec, nep-fdg and nep-ure
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https://eprints.ucm.es/id/eprint/11737/1/1003.pdf (application/pdf)

Related works:
Journal Article: Housing investment in Spain: has it been the main engine of growth? (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:ucm:doicae:1003

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