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The Spanish Hangover

Author

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  • Gros, Daniel
  • Alcidi, Cinzia

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.

Suggested Citation

  • Gros, Daniel & Alcidi, Cinzia, 2012. "The Spanish Hangover," CEPS Papers 6836, Centre for European Policy Studies.
    • Handle: RePEc:eps:cepswp:6836
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    File URL: http://www.ceps.eu/system/files/book/2012/04/PB267%20CA%20%2526%20DG%20Spanish%20Overhang.pdf
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    Cited by:

    1. Smeets, Heinz-Dieter, 2012. "Zum Stand der Staatsschuldenkrise in Europa," DICE Ordnungspolitische Perspektiven 30, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    2. Dethier, Jean-Jacques & Morrill, Curtis, 2012. "The great recession and the future of cities," Policy Research Working Paper Series 6256, The World Bank.
    3. Emilios Avgouleas, 2015. "Bank Leverage Ratios and Financial Stability: A Micro- and Macroprudential Perspective," Economics Working Paper Archive wp_849, Levy Economics Institute.

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