Antonio Cabrales, Juan Dolado, José García-Montalvo, 08 December 2008

Spain is in the throes of its deepest economic slump since the early eighties. Its economy suffers from weak productivity and is reliant on cheap credit. Its “dead” housing sector needs to shrink, but housing subsidies and a highly regulated labour market impede adjustment. This column proposes a series of reforms to improve the Spanish economy.

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