The Spanish hangover

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Series Title
Series Details No. 267, April 2012
Publication Date April 2012
Content Type

Abstract:
Spain faces high unemployment and slow growth. This paper focuses on an important source of those problems, namely its housing market. While some adjustment has occurred since Spain's housing bubble burst in 2008, the authors find that house prices and construction need to decrease more to slow Spain's unsustainable accumulation of foreign debt.
Source Link Link to Main Source http://aei.pitt.edu/34719/1/PB267_CA_%26_DG_Spanish_Overhang.pdf
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