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 thos...

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Bibliographic Details

Online Access:	Full Text (via ProQuest)
Main Author:	Rabanal, Pau
Other Authors:	Aspachs-Bracons, Oriol
Format:	eBook
Language:	English
Published:	Washington : International Monetary Fund, 2009.
Series:	IMF working paper (Online)