The Spanish Hangover

CEPS Policy Brief No. 267

5 Pages Posted: 15 May 2012

See all articles by Cinzia Alcidi

Cinzia Alcidi

CEPS; Graduate Institute of International and Development Studies (IHEID)

Daniel Gros

Centre for European Policy Studies, Brussels; CESifo (Center for Economic Studies and Ifo Institute)

Date Written: April 19, 2012

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.

Keywords: Spain, unemployment, growth, housing market, house prices, foreign debt

Suggested Citation

Alcidi, Cinzia and Gros, Daniel, The Spanish Hangover (April 19, 2012). CEPS Policy Brief No. 267, Available at SSRN: https://ssrn.com/abstract=2060120

Cinzia Alcidi (Contact Author)

CEPS ( email )

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Brussels, 1000
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Graduate Institute of International and Development Studies (IHEID) ( email )

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Switzerland

Daniel Gros

Centre for European Policy Studies, Brussels ( email )

1 Place du Congres
B-1000 Brussels, 1000
Belgium

CESifo (Center for Economic Studies and Ifo Institute)

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Munich, DE-81679
Germany

HOME PAGE: http://www.CESifo.de

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