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The Spanish Hangover

Author

Listed:
  • 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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    References listed on IDEAS

    as
    1. Francis Vitek & Scott Roger, 2012. "The Global Macroeconomic Costs of Raising Bank Capital Adequacy Requirements," IMF Working Papers 12/44, International Monetary Fund.
    2. J. Tobin, 1958. "Liquidity Preference as Behavior Towards Risk," Review of Economic Studies, Oxford University Press, vol. 25(2), pages 65-86.
    3. João A. C. Santos, 2000. "Bank capital regulation in contemporary banking theory: a review of the literature," BIS Working Papers 90, Bank for International Settlements.
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    Cited by:

    1. Smeets, Heinz-Dieter, 2012. "Zum Stand der Staatsschuldenkrise in Europa," DICE Ordnungspolitische Perspektiven 30, University of Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    2. 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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