Spain: Selected Issues

April 22, 2009

Preview Citation

Format: Chicago

Spain: Selected Issues, (USA: International Monetary Fund, 2009) accessed November 26, 2024

Summary

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.

Subject: Credit, Fiscal stance, Housing, Housing prices, Money, National accounts, Prices, Production, Productivity, Total factor productivity

Keywords: A number of bank, Bank activity, Banking industry, CR, Credit, Eastern Europe, Europe, Fixed-term contracts assist productivity, Free market, GDP, Global, High-productivity sector, Housing, Housing price, Housing prices, ISCR, Leverage ratio, North Africa, Northern Europe, Productivity, Spain, Total factor productivity

Publication Details

Pages:

93
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/129
Stock No:

1ESPEA2009002
ISBN:

9781451812299
ISSN:

1934-7685

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