Housing investment in Spain: has it been the main engine of growth?
AbstractThis 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.
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Bibliographic InfoPaper provided by Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales in its series Documentos del Instituto Complutense de Análisis Económico with number 1003.
Length: pages 20
Date of creation: 2010
Date of revision:
Housing capital stock; Spanish economy; Building industry; Labour growth.;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-12-23 (All new papers)
- NEP-EEC-2010-12-23 (European Economics)
- NEP-FDG-2010-12-23 (Financial Development & Growth)
- NEP-URE-2010-12-23 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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88-10, Federal Reserve Bank of Chicago.
- David Aschauer, 1988.
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- Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-80, November.
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