The Drivers of Housing Cycles in Spain

The Drivers of Housing Cycles in Spain
Since Spain joined the EMU, two main important factors behind the housing boom appear to be the decrease of nominal interest rates and demographic factors. In this paper we estimate a New Keynesian model of a currency area, using data for Spain and the rest of the EMU to study the importance of those factors. We also examine the role of... READ MORE...

Publication date: September 2009
ISBN 9781451873504
$18.00

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