We construct a simple probit model of the determinants of real house price slump endings.  We find that the probability of a house price slump ending is higher, the smaller was the pre-slump house price run-up; the greater has been the cumualtive house price decline; the lower are real mortgage...

This paper discusses how Spain’s urban housing markets reacted to the farreaching changes that affected the demand for dwellings during the first phase of the rural-urban transition process. To this end, we construct a new hedonic index of real housing prices and assemble a cross-regional...

In Spain, land reform involving the break-up of large southern estates was a central issue during the first decades of the twentieth century. It was justified on the grounds of economic efficiency, social equity and the distribution of political power. This paper uses new provincial data on...

During the decades previous to the Civil War, Spain experienced a rapid process of urbanization, which was accompanied by the demographic transition and sizeable rural-urban migrations. This article investigates how urban housing markets reacted to these far-reaching changes that increased...

We construct a simple probit model of the determinants of real house price slump endings. We find that the probability of a house price slump ending is higher, the smaller was the pre-slump house price run-up; the greater has been the cumulative house price decline; the lower are real mortgage...

The Great Depression of the Thirties and the Great Credit Crisis of the "Noughties had similar causes but elicited strikingly different policy responses. It may still be too early to assess the effectiveness of current policy responses, but it is possible to analyze monetary and fiscal policies...

This paper discusses how Spain’s urban housing markets reacted to the far-reaching changes that affected the demand for dwellings during the first phase of the ruralurban transition process. To this end, we construct a new hedonic index of real housing prices and assemble a cross-regional...