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Spain: Selected Issues

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  • International Monetary Fund

Abstract

Spain’s housing boom was supported by rapid economic expansion, strong employment growth, an immigration boom, and low real interest rates. With the abrupt drying up of funding since mid-2007, these factors have eroded quickly. Through 2010, employment and value added in construction are projected to halve as peak housing starts are completed. The authorities have launched efforts to help limit foreclosures and to activate the underdeveloped rental market. In the medium term, housing market cyclicality could be reduced by fading out generous home ownership incentives.

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  • International Monetary Fund, 2009. "Spain: Selected Issues," IMF Staff Country Reports 2009/129, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2009/129
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    Cited by:

    1. Francisco Pérez & Eva Benages, 2017. "The Role of Capital Accumulation in the Evolution of Total Factor Productivity in Spain," International Productivity Monitor, Centre for the Study of Living Standards, vol. 33, pages 24-50, Fall.
    2. Nicolas Véron, 2016. "The IMF’s role in the euro-area crisis- financial sector aspects," Policy Contributions 16213, Bruegel.
    3. Adam Czerniak & Michał Rubaszek, 2018. "The Size of the Rental Market and Housing Market Fluctuations," Open Economies Review, Springer, vol. 29(2), pages 261-281, April.

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