Housing investment in Spain: has it been the main engine of growth?
This article studies dynamic responses of employment and Gross Domestic Product (GDP) growth to a permanent, unitary 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.
Year of publication: |
2013
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Authors: | Cosculluela-Martínez, Carolina ; Frutos, Rafael Flores de |
Published in: |
Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 45.2013, 14, p. 1835-1843
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Publisher: |
Taylor & Francis Journals |
Saved in:
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