Current account dynamics and the housing cycle in Spain
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DOI: 10.1016/j.jimonfin.2018.05.007
Abstract: We investigate the negative correlation between housing markets and the current account in Spain. By employing robust sign restrictions, which we derive from a DSGE model for a currency union, we analyze the effects of… read more here.
Keywords: savings glut; risk premium; housing; current account ... See more keywords