SSOAR Logo
    • Deutsch
    • English
  • English 
    • Deutsch
    • English
  • Login
SSOAR ▼
  • Home
  • About SSOAR
  • Guidelines
  • Publishing in SSOAR
  • Cooperating with SSOAR
    • Cooperation models
    • Delivery routes and formats
    • Projects
  • Cooperation partners
    • Information about cooperation partners
  • Information
    • Possibilities of taking the Green Road
    • Grant of Licences
    • Download additional information
  • Operational concept
Browse and search Add new document OAI-PMH interface
JavaScript is disabled for your browser. Some features of this site may not work without it.

Download PDF
Download full text

(external source)

Citation Suggestion

Please use the following Persistent Identifier (PID) to cite this document:
https://nbn-resolving.org/urn:nbn:de:101:1-201603073690

Exports for your reference manager

Bibtex export
Endnote export

Display Statistics
Share
  • Share via E-Mail E-Mail
  • Share via Facebook Facebook
  • Share via Bluesky Bluesky
  • Share via Reddit reddit
  • Share via Linkedin LinkedIn
  • Share via XING XING

The housing finance system in Italy and Spain: why did a housing bubble develop in Spain - and not in Italy?

[working paper]

Bulbarelli, Miriam

Corporate Editor
Freie Universität Berlin, FB Politik- und Sozialwissenschaften, Otto-Suhr-Institut für Politikwissenschaft Arbeitsstelle Internationale Politische Ökonomie

Abstract

The international financial crisis, which started in the United States at the end of 2007, hit Europe soon afterwards. Its impact on the old continent has been enormous. A number of country-specific crises were triggered, especially in the European periphery. This essay will focus on two countries, ... view more

The international financial crisis, which started in the United States at the end of 2007, hit Europe soon afterwards. Its impact on the old continent has been enormous. A number of country-specific crises were triggered, especially in the European periphery. This essay will focus on two countries, which were affected particularly severely: Spain and Italy. In Spain, the global financial crisis was worsened by the burst of the housing bubble, which had inflated the cost of housing during the early 2000s. In Italy, in contrast, pre-existing problems with the management of high public debt, long-term stagnation in labour productivity and low government credibility made its economy vulnerable to the financial crisis. Though both countries had different experiences dealing with the global crisis, Italian and Spanish structural and economic features are largely comparable and both countries experienced an economic boom since the 2000s, especially in the housing sector. Yet, Italy did not witness a housing boom turning into a bubble and its consequences, a steep correction of housing prices - the "bust" -, whereas Spain is still recovering from it. This paper attempts to analyze the reason for this discrepancy.... view less

Keywords
EU; Italy; monetary union; tax relief; homeowner; price level; financial crisis; real estate; monetary policy; fiscal policy; lending; funding; national debt; bank; housing market; Spain

Classification
Economic Sectors
Economic Policy
Public Finance

Free Keywords
housing finance system; housing bubble

Document language
English

Publication Year
2016

City
Berlin

Page/Pages
25 p.

Series
PIPE - Papers on International Political Economy, 26

ISSN
1869-8468

Status
Published Version; reviewed

Licence
Basic Digital Peer Publishing Licence


GESIS LogoDFG LogoOpen Access Logo
Home  |  Legal notices  |  Operational concept  |  Privacy policy
© 2007 - 2025 Social Science Open Access Repository (SSOAR).
Based on DSpace, Copyright (c) 2002-2022, DuraSpace. All rights reserved.
 

 


GESIS LogoDFG LogoOpen Access Logo
Home  |  Legal notices  |  Operational concept  |  Privacy policy
© 2007 - 2025 Social Science Open Access Repository (SSOAR).
Based on DSpace, Copyright (c) 2002-2022, DuraSpace. All rights reserved.