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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| Format: | Czasopismo |
| Język: | English |
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Washington, D.C. :
International Monetary Fund,
2009.
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| Seria: | IMF Working Papers; Working Paper ;
No. 2009/203 |
| Dostęp online: | Full text available on IMF |