Economic analysis of the 2007 crisis in Spain

Abstract

In this paper we will carry out an economic analysis of the 2007 crisis in Spain. First of all we will emphasize the most relevant facts of the World economy and we will stress on the American twin deficits and the recent crisis of subprime mortgages. In second place, we will analyse the chronological evolution of the Spanish crisis, whose main trigger was the real estate bubble. In addition, we will talk about the evolution of unemployment rate, prices and Gross Domestic Product. Afterwards, we will highlight some additional issues and finally, we will summarize the most relevant conclusions we have reached to about this topic.