IMF Study Reveals How a Housing Crisis Can Hurt a Nation’s Economy for Years
A new paper by the International Monetary Fund (IMF) explains exactly why a housing bubble also manages to trigger a nation’s unemployment and lower its GDP.
The paper looked at the economies of four European countries that all experienced housing booms that burst – Denmark, Ireland, the Netherlands, and Spain. The analysts then drew a number of common features that, according to Business Insider, “could prove crucial to our understanding of the impact of future economic shocks.”
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