Cosculluela Martínez, CarolinaFlores de Frutos, Rafael2023-06-202023-06-202010https://hdl.handle.net/20.500.14352/48950CÓDIGOS JEL: C32, H54, C51, C53, E22This 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.spatechnical reporthttps://www.ucm.es/icaeopen accessHousing capital stockSpanish economyBuilding industryLabour growthStock de CapitalCapital viviendaEmpleoProducto Interior BrutoCrecimientoInversiónGrowthInvestmentGross Domestic ProductLabourHousing CapitalCapital Stock.Crisis económicasTrabajoEconomía industrial5307.06 Fluctuaciones Económicas