Template-type: ReDIF-Paper 1.0
Author-Name: Carolina Cosculluela Martínez
Author-Email: carolina.cosculluela@urjc.es
Author-Workplace-Name: Departamento de Economía Aplicada I, Universidad Rey Juan Carlos, Pº de los Artilleros, s/n 28032, Madrid, Spain
Author-Name: Rafael Flores de Frutos
Author-Email: rflores@ccee.ucm.es
Author-Workplace-Name: Departamento de Fundamentos de Análisis Económico II, Universidad Complutense de Madrid. Campus de Somosaguas, 28223, Ma-drid, Spain
Title: Housing investment in Spain: has it been the main engine of growth?
Abstract: This paper studies dynamic responses of employment and GDP growth to a permanent, uni-tary shock in 
	the housing capital stock for the Spanish economy. It quantifies the importance of this variable in the boom 
	experienced by the Spanish economy during the pre-crisis years. Results confirm that building industry has been 
	the most important engine for output and labour growth.
Keywords: Housing capital stock, Spanish economy, Building industry, Labour growth.
Length: pages 20 
Creation-Date: 2010 
X-File-Ref: http://america.sim.ucm.es/repec/ucm/ref/doicae1003.txt
File-URL: https://eprints.ucm.es/id/eprint/11737/1/1003.pdf
File-Format: Application/pdf
Handle: RePEc:ucm:doicae:1003