Working Papers

From Banco de España
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Bibliographic data for series maintained by Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España ().

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2213: The propagation of worldwide sector-specific shocks

Mario Izquierdo, Enrique Moral-Benito, Elvira Prades and Javier Quintana González

2212: Uncertainty, non-linear contagion and the credit quality channel: an application to the Spanish interbank market

Adrián Carro and Patricia Stupariu

2211: Dual returns to experience

Jose Garcia-Louzao, Laura Hospido and Alessandro Ruggieri

2210: Fresh start policies and small business activity: evidence from a natural experiment

Marco Celentani, Miguel Garcia-Posada and Fernando Gómez Pomar

2209: Thick borders in Franco’s Spain: the costs of a closed economy

Rodolfo Campos, Iliana Reggio and Jacopo Timini

2208: Skewed SVARs: tracking the structural sources of macroeconomic tail risks

Carlos Montes-Galdón and Eva Ortega

2207: The role of a green factor in stock prices. When Fama & French go green

Ricardo Gimeno and Clara Gonzalez

2206: Financial exclusion and sovereign default: the role of official lenders

María Bru Muñoz

2205: Housing prices in Spain: convergence or decoupling?

Corinna Ghirelli, Danilo Leiva-Leon and Alberto Urtasun

2204: Inequality and psychological well-being in times of COVID-19: evidence from Spain

Monica Martinez-Bravo and Carlos Sanz

2203: Roots and Recourse Mortgages: Handing back the keys

Jorge Galan, Matías Lamas and Raquel Vegas

2202: La regulación sectorial en España. Resultados cuantitativos

Juan Mora-Sanguinetti and Isabel Soler

2201: Dampening the financial accelerator? direct lenders and monetary policy

Ryan Banerjee and Jose Maria Serena Garralda

2145: Firm heterogeneity, capital misallocation and optimal monetary policy

Beatriz González, Galo Nuño Barrau, Dominik Thaler and Silvia Albrizio

2144: Do analysts forecast differently in periods of uncertainty? An empirical analysis of target prices for Spanish banks

Roberto Pascual

2143: Measuring TFP: The role of profits, adjustment costs, and capacity utilization

Diego Comin, Javier Quintana González, Tom Schmitz and Antonella Trigari

2142: Inflation tolerance ranges in the new keynesian model

Hervé Le Bihan, Magali Marx and Julien Matheron

2141: Brexit: Cyclical dependence in market neutral hedge funds

Julio A. Crego and Julio Gálvez

2140: Brexit: Trade diversion due to trade policy uncertainty

Eduardo Gutiérrez Chacón, Aitor Lacuesta and Cesar Martin Machuca

2139: An automatic algorithm to date the reference cycle of the Spanish economy

Maximo Camacho, María Dolores Gadea and Ana Gómez Loscos

2138: Do inflation expectations improve model-based inflation Forecasts?

Marta Banbura, Danilo Leiva-Leon and Jan-Oliver Menz

2137: Optimal Monetary Policy with the Risk-Taking Channel

Angela Abbate and Dominik Thaler

2136: Income Risk Inequality: Evidence from Spanish Administrative Records

Manuel Arellano, Stéphane Bonhomme, Micole De Vera, Laura Hospido and Siqi Wei

2135: House prices and misallocation: The impact of the collateral channel on productivity

Sergi Basco, David Lopez-Rodriguez and Enrique Moral-Benito

2134: Tracking weekly state-level economic conditions

Christiane Baumeister, Danilo Leiva-Leon and Eric Sims

2133: Does political polarization affect economic expectations?: Evidence from three decades of cabinet shifts in Europe

Luis Guirola

2132: Business complexity and geographic expansion in banking

Isabel Argimon and Maria Rodriguez-Moreno

2131: Asset encumbrance and bank risk: theory and first evidence from public disclosures in Europe

Albert Banal-Estañol, Enrique Benito, Dmitry Khametshin and Jianxing Wei

2130: Sectorial holdings and stock prices: the household-bank nexus

Matías Lamas and David Martínez-Miera

2129: Rates of SARS-COV-2 transmission and vaccination impact the fate of vaccine-resistant strains

Simón A. Rella, Yuliya Kulikova, Emmanouil T. Dermitzakis and Fyodor A. Kondrashov

2128: Lessons from estimating the average option-implied volatility term structure for the Spanish banking sector

Maria T. Gonzalez-Perez

2127: The impact of heterogeneous unconventional monetary policies on the expectations of market crashes

Irma Alonso Alvarez, Pedro Serrano and Antoni Vaello-Sebastià

2126: The causal impact of removing children from abusive and neglectful homes

Anthony Bald, Eric Chyn, Justine Hastings and Margarita Machelett

2125: ECB euro liquidity lines

Silvia Albrizio, Iván Kataryniuk, Luis Molina Sánchez and Jan Schäfer

2124: The impact of COVID-19 on analysts’ sentiment about the banking sector

Alicia Aguilar and Diego José Torres

2123: Awareness of pandemics and the impact of COVID-19

Alejandro Buesa, Javier Pérez and Daniel Santabárbara

2122: Revisiting the 'Cobden-Chevalier network' trade and welfare effects

Jacopo Timini

2121: The effect of tariffs on Spanish goods exports

Eduardo Gutiérrez Chacón and Cesar Martin Machuca

2120: Firm-level heterogeneity in the impact of the COVID-19 pandemic

Alejandro Fernández-Cerezo, Beatriz González, Mario Izquierdo and Enrique Moral-Benito

2119: Recycling carbon tax revenues in Spain. Environmental and economic assessment of selected green reforms

Angel Estrada and Daniel Santabárbara

2118: Democracy, technocracy and economic growth: evidence from 20 century Spain

Alessandro Melcarne, Juan Mora-Sanguinetti and Rok Spruk

2117: Structural gravity and trade agreements: does the measurement of domestic trade matter?

Rodolfo Campos, Jacopo Timini and Elena Vidal

2116: Marginal tax changes with risky investment

Patrick Macnamara, Myroslav Pidkuyko and Raffaele Rossi

2115: Import competition, regional divergence, and the rise of the skilled city

Javier Quintana González

2114: Unequal trade, unequal gains: the heterogeneous impact of MERCOSUR

Rodolfo Campos and Jacopo Timini

2113: Does the added worker effect matter?

Nezih Guner, Yuliya Kulikova and Arnau Valladares-Esteban

2112: Price setting in Chile: Micro evidence from consumer on-line prices during the social outbreak and Covid-19

Jennifer Peña and Elvira Prades

2111: Time variation in lifecycle consumption and income

Yunus Aksoy, Henrique Basso and Carolyn St Aubyn

2110: Fed communication on financial stability concerns and monetary policy decisions: revelations from speeches

Klodiana Istrefi, Florens Odendahl and Giulia Sestieri

2109: Weather, mobility and the evolution of the Covid-19 pandemic

Corinna Ghirelli, Andrea González, José Luis Herrera and Samuel Hurtado