Working Papers

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0505: The role of global risk aversion in explaining Latin American sovereign spreads

Alicia García-Herrero and Alvaro Ortiz

0504: Testing the forecasting performace of IBEX 35 option implied risk neutral densities

Francisco Alonso, Roberto Blanco and Gonzalo Rubio

0503: Sectoral mark-up dynamics in Spain

Angel Estrada and David Lopez-Salido

0502: Cross-country differences in monetary policy transmission

Robert-Paul Berben, Alberto Locarno, Julian Morgan and Javier Valles

0501: The fiscal theory of the price level: a narrow theory for non-fiat money

Oscar Arce

0423: What makes balance sheet effects detrimental for the country risk premium?

Juan Carlos Berganza and Alicia García-Herrero

0422: Price setting behaviour in Spain: stylised facts using consumer price micro data

Luis Alvarez and Ignacio Hernando

0421: Household borrowing and consumption in Spain

Carmen Martínez-Carrascal and Ana Del Rio

0420: Determinants of collateral

Gabriel Jimenez, Vicente Salas and Jesús Saurina

0419: A useful tool to identify recessions in the euro-area

Pilar Bengoechea and Gabriel Pérez-Quirós

0418: The short-term impact of government budgets on prices: evidence from macroeconometrics models

Jerome Henry, Pablo Hernández de Cos and Sandro Momigliano

0417: Combining filter design with model based filtering (with an application to business cycle estimation)

Regina Kaiser and Agustin Maravall

0416: An empirical approximation of the natural rate of interest and potential growth

Marta Manrique and Jose Manuel Marqués Sevillano

0415: On monetary policy rules for the euro area

Miguel Casares

0414: Collateral, type of lender and relationship banking as determinants of credit risk

Gabriel Jimenez and Jesús Saurina

0413: A quarterly macroeconometric model of the Spanish Economy

Angel Estrada, José Luis Fernández, Esther Moral and Ana Regil

0412: Do european primarily internet banks show scale and experience efficiencies?

Javier Delgado, Ignacio Hernando and María Nieto

0411: A synthetic indicator of financial pressure for spanish firms

Andrew Benito, Francisco Javier Delgado and Jorge Martínez Pagés

0410: La importancia de la histéresis en las exportaciones de manufacturas de los países de la UEM

Ana Buisán, Juan Carlos Caballero, Jose Campa and Noelia Jiménez-Magán

0409: Tobin's imperfect substitution in optimizing general equilibrium

Javier Andrés, David López Salido and Edward Nelson

0408: Are european business cycles close enough to be just one?

Maximo Camacho, Gabriel Pérez-Quirós and Lorena Saiz

0407: Interest rate determination in the interbank market

Vítor Gaspar, Gabriel Pérez-Quirós and Hugo Rodriguez Mendizabal

0406: Determinación de las exportaciones de manufacturas en los países de la UEM a partir de un modelo de oferta-demanda

Ana Buisán, Juan Caballero and Noelia Jiménez-Magán

0405: Tango with the gringo: the hard peg and real misalign ment in Argentina

Enrique Alberola, Humberto Lopez and Luis Servén

0404: Similarities and convergence in G-7 cycles

Fabio Canova, Matteo Ciccarelli and Eva Ortega

0403: An economic analysis of education externalities in the matching process of UK regions (1992-99)

Pablo Burriel

0402: What does really discipline fiscal policy in emerging markets? The role and dynamics of exchange rate regimes

Enrique Alberola and Luis Molina Sánchez

0401: An empirical analysis of the dynamic relationship between investment grade bonds and credit default swaps

Roberto Blanco, Simon Brennan and Ian Marsh

0322: Análisis comparado de la demanda de exportación de manufacturas en los países de la UEM

Ana Buisán and Juan Carlos Caballero

0321: Understanding the effects of government spending on consumption

Jordi Galí, David López Salido and Javier Valles

0320: Rule-of-thumb consumers and the design of interest rate rules

Jordi Galí, David López Salido and Javier Valles

0319: The impact of financial variables on firms' real decisions: evidence from Spanish firm-level data

Ignacio Hernando and Carmen Martínez-Carrascal

0318: Demographic Maturity and Economic Performance: The Effect of Demographic Transitions on Per Capita GDP Growth

Rafael Gomez and Pablo Hernández de Cos

0317: Contagion and portfolio shift in emerging countries' sovereign bonds

Antonio Diez de los Rios and Alicia Garcia Herrero

0316: Balance sheet effects and the country risk premium: an empirical investigation

Juan Carlos Berganza, Roberto Chang and Alicia Garcia Herrero

0315: Financial stability and the design of monetary policy

Alicia Garcia Herrero and Pedro del Río

0314: Automatic stabilizers, fiscal rules and macroeconomic stability

Javier Andrés and Rafael Domenech

0313: The daily market for funds in Europe: what has changed with the EMU

Gabriel Perez Quiros and Hugo Rodriguez Mendizabal

0312: Labour demand, flexible contracts and financial factors: new evidence from Spain

Andrew Benito and Ignacio Hernando

0311: The macroeconomic effects of fiscal policy in Spain

Francisco de Castro Fernández

0310: The capital structure decisions of firms: is there a pecking order?

Andrew Benito

0309: Misalignment, liabilities dollarization and exchange rate adjustment in Latin America

Enrique Alberola

0308: Technology shocks and job flows

Claudio Michelacci and David Lopez-Salido

0307: Analysis of house prices in Spain

Jorge Martínez Pagés and Luis Ángel Maza

0306: Capacity utilization and Monetary Policy

Pedro Pablo Álvarez Lois

0305: Persistent inflation differentials in Europe

Eva Ortega

0304: House prices and rents: an equilibrium asset pricing approach

Juan Ayuso and Fernando Restoy

0303: The incidence and persistence of dividend omissions by Spanish firms

Andrew Benito

0302: The euro area inefficiency gap

Jordi Galí, Mark Gertler and David Lopez-Salido

0301: Market structure and inflation differentials in the European Monetary Union

Javier Andrés, Eva Ortega and Javier Valles